ReachLocal CEO Resigns

Woodland Hills, Calif.-based ReachLocal CEO Zorik Gordon resigned his post Tuesday.

On Tuesday, ReachLocal announced that Gordon has resigned both from the position of chief executive officer and board member, "to pursue other entrepreneurial opportunities." The company simultaneously named Chairman of the Board David Carlick to take over as interim chief executive officer, effective immediately. Carlick will hold this post while the board searches for a more permanent replacement.

Gordon appeared to depart the company on good terms, affirming in a statement that he was "extremely proud of the company we have built over the last 10 years" and noting: "We have grown from a small one room start-up to a global company with more than 20,000 customers and a run-rate of over $500 million in annual revenue."

Reassuring investors that the change in management is not connected to financial disappointments, ReachLocal reaffirmed its guidance for Q3, and for the full year -- with revenue s approximating $131.5 million for the quarter, $517.5 million for the year, and pro forma profitability in each.

The article ReachLocal CEO Resigns originally appeared on Fool.com.

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