jobs.com, Inc. Hires New CEO For Next Phase Of Growth

Business Wire, May 22, 2000

Business Editors

DALLAS--(BUSINESS WIRE)--May 22, 2000

jobs.com, Inc., the fastest growing Internet destination for career advancement and recruitment, has announced the appointment of Peter A. Gudmundsson as President & Chief Executive Officer.

Company founder, Timothy Armes, will remain on the company's Board of Directors and focus his attention on other business initiatives.

Gudmundsson was formerly President of Primedia Workplace Learning ("PWPL") a Carrollton, Texas based B2B distance learning company. He joined Primedia (NYSE:PRM), then called K-III Communications, in New York as Vice President of Development in 1993 and was responsible for corporate acquisitions activity including the purchase of many companies in the information publishing space. In 1996, he relocated to Dallas to become Chief Financial Officer and later Chief Operating Officer of PWPL. He has been President of PWPL since January 1999. Before joining Primedia, Gudmundsson served as Manager of Corporate Development at Tosco Corporation, as investment banker at Morgan Stanley & Co., and as a U.S. Marine field artillery officer.

"Peter is the ideal choice as we continue the aggressive evolution of jobs.com to a career management and human resources center. His combined business acumen and leadership skills have proven he has the ability to manage a rapidly growing organization. This is key to bringing our company into and through our next phase of growth," said Christopher Bancroft, Chairman of the Board at jobs.com.

"I've come to jobs.com because it is a winner," commented Gudmundsson. "Forrester research suggests that in 2005, career networks will capture more than 55% of a predicted $7 billion industry. With an excellent management team now in place, rapidly growing sales and traffic, and high quality backing from Viacom/CBS, idealab Capital Partners, Adecco and others, jobs.com is well positioned to become a dominant force in this dynamic emerging category.

Gudmundsson is a graduate of Brown University and earned his MBA from Harvard University. In addition to being named President & CEO, Gudmundsson has also been named to jobs.com's Board of Directors.

About jobs.com

Dallas-based jobs.com has grown to become one of the leading Internet destinations for career advancement, since its launch as a bulletin board system in 1992, and offers the only all-digital resume management system with its free Resumail software. Today, jobs.com has aggressively evolved into a resource that matches career-minded individuals determined to manage their destiny with companies desiring to win the battle for talent.

jobs.com has recently received over $90 million in funding from partners such as idealab Capital Partners, Viacom (NYSE:VIA), and Adecco (Nasdaq:ADECY). Its powerful new website, which attracts nearly 3 million visitors monthly searching job listings from over 18,000 companies, also features career development content from well-known authors such as Tom Peters and Martin Yate. For more information, visit www.jobs.com.