Online directory service LookSmart last week named a new CEO to replace outgoing chief Evan Thornley, who co-founded the company in 1995. Effective Oct. 1, Chief Operating Officer Jason Kellerman will replace Thornley, who plans to remain company chairman and focus on long-term strategy. LookSmart recentlyits business focus from that of Internet directory to a paid-listing service. Under the new model, businesses pay to list their Web sites in related keyword search results.
As part of its announcement, the company raised earnings guidance for the second quarter to between $20 million and $21 million in revenue. It also announced the resignations of three board members: Robert Ryan, Myriann Byerwalter and James Tananbaum. It has employed a search firm to find replacements.