Business Services Industry
An i toward profitability; ivillage inc.(Brief Article)
Crain's New York Business, November, 2000 by brookman, faye
Under pressure to produce profits, iVillage Inc. founder Candice Carpenter stepped aside in July and the company promoted Doug McCormick to chief executive. Ms. Carpenter, who has proven successful at raising capital for iVillage, will continue to serve as chairman of the company, whose shares have been battered by disgruntled investors.
The company's stock, which traded at nearly $30 per share a year ago, is now hovering at around $2. ``This is a natural step in the evolution of iVillage. As we further drive operating leverage to gain profitability, iVillage is now at a period where Doug's talents are extremely useful,'' says Ms. Carpenter. Mr. McCormick was previously president of the company, which runs Web sites for women that attract 10 million...
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