Dice Holdings names new CEO, to acquire U.K. company
Wednesday, July 24, 2013 10:34 AM
By Joe Gardyasz
Dice Holdings Inc. today announced that Michael Durney, executive vice president and chief financial officer, will succeed Scot Melland as president and CEO of the company. Based in New York City with a major operations center in Urbandale, Dice Holdings is a leading provider of specialized websites for professional communities, including technology and engineering, financial services, energy, health care and security clearance.
Durney, who will become president and CEO effective Sept. 30, has been with the company since joining Dice Holdings' predecessor as senior vice president of finance and chief financial officer in 2000. Since then, he has led nine acquisitions, taken the company public and provided counsel to all of Dice Holdings' services. He also will join the company's board of directors.
"Mike possesses a wealth of experience and knowledge, having worked across our brands while serving in a range of strategic roles," said Peter Ezersky, chairman of the board-designate. "We believe Mike's elevation to CEO is a natural fit as we enter the next phase of Dice Holdings' evolution."
Ezersky credited Melland, who served in the CEO role for 12 years, as instrumental in building Dice Holdings into a global leader in online recruiting.
The company also announced Wednesday that it has extended its online technology recruiting business to Europe with the acquisition of The IT Job Board. The United Kingdom-based company operates a network of tech career sites in the U.K., Germany, Belgium and Holland. The purchase price consists of initial cash consideration of 8 million pounds ($12.2 million) net of cash acquired. Additional consideration to a maximum of 3 million pounds ($4.6 million) is payable in cash upon the achievement of certain operating and financial goals ending in 2014.
Dice Holdings is "in a strong position to capitalize on additional opportunities, including expanding our tech recruiting business outside North America," Durney said in a release. "While our specialty focus will remain unchanged, we do expect to accelerate our plans in several key areas. I am excited to continue to work with our teams worldwide who focus every day on delivering the best experience for our customers and the professionals we serve."
The company, which has more than 200 employees in Urbandale, also reported financial results for the second quarter, in which total revenues totaled $52 million, an increase of 7 percent from $48.5 million in the second quarter of 2012. Net income for the quarter totaled $8 million, resulting in earnings of 13 cents per share.
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