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NebuAd CEO steps down

Thu, 09/04/2008 - 8:35am
Brian Santo

After being raked over the coals by consumer groups and members of Congress, NebuAd CEO Robert Dykes has relinquished that post to become chief financial officer at Verifone Holdings.

Nonetheless, Dykes will remain chairman. Kira Makagon, who had been the company's president, will take over the role of CEO.

Verifone said late Tuesday that Dykes will become senior vice president, effective immediately. He will become CFO after the company files its financial report for the latest quarter.

NebuAd developed a technology that enabled Internet service providers (ISPs) to track their subscribers' Web surfing activity and use that information to provide targeted ads.

Companies including Charter Communications, Embarq, CenturyTel and Bresnan Communications were testing the technology, but all backed off after consumer groups got vociferous enough about potential violations of privacy that Congress began to investigate.

NebuAd also said it would broaden its market to encompass "more conventional media channels."

Verifone specializes in payment processing equipment. Its previous CFO, Barry Zwarenstein, stepped down after the company was discovered to have exaggerated profits during the first three quarters of fiscal 2007.

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