WOODLAND HILLS, Calif. (AP) -- United Online Inc. said Thursday that Francis Lobo will head the company following the spinoff of FTD Companies Inc.
The Woodland Hills, Calif., company bought florist FTD in 2008 but the business struggled due to the economy's impact on consumer spending. United later decided to spin off the business, a process which will be complete on Nov. 1.
United said Lobo, a former AOL executive, will become president and CEO of United Online on Nov. 5. Lobo will also join its board of directors. He worked most recently as President of AOL Services, which included managing AOL.com, AOL mail and more.
The company said his background will be very relevant to the businesses he will be overseeing. United's remaining business includes websites such as classmates.com and Internet access services such as NetZero and Juno.
Mark Goldston, the current chairman, president and CEO of United, will be leaving after the spinoff of FTD after 15 years at the company. Howard Phanstiel will become United's non-executive chairman. Phanstiel has been a director of United Online since October 2008.
FTD will be led by Robert Apatoff, who is the current president of FTD.
After completion of the spinoff, Robert Berglass will serve as FTD's non-executive chairman. Berglass has been a director of United Online since 2001 and was a director of the predecessor company, NetZero until the merger with Juno Online created United Online. He is currently the lead independent director at United Online and will remain a member of United's board after the spinoff.
- Investment & Company Information