Autoweb.com CEO resigns

Autoweb.com announced Monday that CEO Sam Hedgpeth has resigned from the online automotive site and will be replaced by Jeffrey Schwartz on an interim basis.

Autoweb.com (Nasdaq: AWEB) shares closed unchanged at 63 cents ahead of the announcement.

Schwartz previously served as the vice president of strategic development.

"Jeffrey's hands-on executive experience and fiscal expertise will allow us to leverage our aggregated customer and vehicle data, interactive technologies and significant financial resources to drive the evolution of our business into profitable data, technology and fulfillment organizations," said Chairman Dean DeBiase in a prepared release.

The company's press release didn't disclose any information regarding Hedgpeth's departure nor his future plans.

Last quarter, Autoweb.com posted a loss of $10.8 million, or 37 cents a share, on sales of $11.5 million.

First Call Corp. consensus expects it to lose 12 cents a share in its fourth quarter and 67 cents a share in the fiscal year.

The stock moved as high as $14.13 in December before sliding to a low of 38 cents a share in October.

The two analysts following the stock rate it a "buy."