Homestore.com Hires New Execs, Will Fire 300
Homestore.com Inc. said it named a new president for its Realtor.com Internet site and that it plans to fire 300 workers this quarter, the latest changes at the biggest online home-listing company since it disclosed it had overstated revenue.
Homestore.com named Steve Ozonian to head its main Internet site, Realtor.com, which it manages for the National Assn. of Realtors, the Westlake Village-based company said in an announcement.
The company also named Pat Whelan as president of Home Builder.com, the Web site it manages for the National Assn. of Home Builders. Homestore.com named Walter Lowry senior vice president and Allan Merrill executive vice president. A company spokesman didn’t return a call for comment.
In December, Homestore.com said it would restate certain financial reports. Two weeks later, the company said it overstated revenue in 2001 by as much as $95million and that Chairman and CEO Stuart Wolff resigned.
Homestore.com shares fell 23 cents to $1.18 on Nasdaq and are down 96% in the last 12 months.
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