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December 5, 2005

Joe Shapira to Resign as Executive of Spark Networks

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Posted by Dave Evans

Spark Networks plc, a leading provider of online personals services, today announced that Joe Shapira, one of the company’s founders and executive chairman of the company’s Board of Directors, has decided to resign from his operating role with the company. Mr. Shapira will continue to be a director and serve as Chairman of the company’s Board of Directors.

Mr. Shapira, who launched JDate in his home in 1997, served as the company’s Chief Executive Officer until March 2004 and, since then, has served as Executive Co-Chairman and Chairman of the company’s Board of Directors. Mr. Shapira plans to spend his time developing other business ventures.

“The company is in terrific hands,” said Mr. Shapira. “When I started this company nearly ten years ago, with my partner and close friend, Alon Carmel, we did not think that the company would grow and prosper as it has and that JDate would become such an institution in the Jewish community. I am both immensely proud of our accomplishments and excited about what the future has in store for the whole company and especially for JDate. As a major shareholder I will continue to make my contribution as chairman of the board of directors.”

David Siminoff, the company’s Chief Executive Officer, said, “Joe leaves behind a great company and an incredible legacy in the Jewish community. He has clearly been a visionary in this arena and we will do our best to continue his legacy and serve as a thriving, growing reflection of our communities. Although we will miss Joe’s presence in the hallways on a day-to-day basis, we are thrilled that he has chosen to continue to serve on the Board.”

See previous mention on ODI about Carmel leaving the company in early 2005, after leaving in 2004, only to return again to help restructure the organization.

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Comments (2) + TrackBacks (0) | Category: Jobs | spark networks


COMMENTS

1. markus on December 5, 2005 2:25 PM writes...

Sounds like rats leaving a sinking ship. If this isn't a vote of confidence against the company i don't know what is.

Anyone placing odds on what the probability that the IPO won't happen?

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2. Sam Moorcroft, ChristianCafe.com on December 5, 2005 6:06 PM writes...

Marcus,

My understanding, based on http://www.spark.net/press/sn_press_111405.htm, "...(the) company’s decision to proceed with the registration and listing process unaccompanied by a sale of equity (as had been previously contemplated)..." is that they are not doing the IPO anymore - they are merely switching exchanges - from Frankfurt to the NYSE. This will give them greater access to cash, when they next need to raise money.

With Joe's departure, they are merely continuing to "clean house" and push out the old guard.

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