Down as CEO of Dark Blue Sea — Moore Stepping
CEO Richard Moore not renewing contract.
Richard Moore is stepping down as chief executive officer of Dark Blue Sea (ASX: DBS) effective at the end of June. Dark Blue Sea is parent firm of Fabulous, a popular domain name registrar and domain parking service for domainers.
As stated by a press release (pdf), Moore will work part time with the firm in an executive director role. Moore has been CEO of the firm since 2001.
The firm has promoted current chief financial officer Gregory Platz to the CEO position starting in July. Platz has been CFO since the firm was founded in 1999.
Like many firms in the domain industry, Dark Blue Sea has faced challenges over the past two years. It’s share price topped $1 (AUS) back in November 2007 but has steadily fallen to just $.20 today. The firm has been considering strategic options for its businesses, counting its Fabulous unit.
At last count the firm owns regarding 400,000 domain names in its own portfolio. It sells some of these domains through its Domain Distribution Network and has a long term deal with domain registrar GoDaddy to offer its domains for sale in response to consumer registration searches.
