Monster Worldwide names former leader Yates as new CEO

Monster Worldwide Inc. on Tuesday named a new CEO and reported a better-than-expected quarter, sending its shares soaring.

The online job search company said that Timothy Yates, a director at Monster and former chief financial officer, is taking over as CEO following Salvatore Iannuzzi's resignation.

Monster said that Iannuzzi stepped down from the CEO post for personal reasons and will continue to serve as a director and non-executive chairman of the board.

Shares jumped 14.8 percent to $4.19 in midafternoon trading.

Monster also reported a third-quarter loss of $1.7 million, or 2 cents per share. It earned 5 cents per share on an adjusted basis, surpassing Wall Street expectations. Analysts surveyed by Zacks Investment Research were, on average, anticipating 3 cents per share.

The New York-based company posted revenue of $191.2 million in the period, also topping Street forecasts. Analysts expected $189.6 million, according to Zacks.

Monster said that it expects its per-share earnings to range from 4 cents to 8 cents for the current quarter.


Elements of this story were generated by Automated Insights using data from Zacks Investment Research. MWW stock research report from Zacks.