|Michael Schutzler Joins Monster to Lead New Consumer Products Division|
Monster(R) celebrates the milestone of 40 million accounts worldwide with the introduction of a new service for its members. Monster, the leading global online careers site and flagship brand of Monster Worldwide, Inc. (NASDAQ: MNST), today announced plans to launch Monster Networking, a professional networking service. This precedent-setting introduction signifies the next phase in the evolution of Monster, further demonstrating its role as the leader in online career management services.
Why is Monster launching a Networking service?
Over 90 percent of job seekers use networking during their job search, according to SHRM(a). This data is supported by recent Monster findings, which indicate that 46 percent(b) of poll respondents found their last job through networking, and 91 percent(c) view networking contacts important when looking for a job. With this new service, Monster endeavors to reach more job seekers than ever before and seizes an opportunity to serve the needs of all professionals, not just those looking for work at the present time.
What is Monster Networking?
Monster Networking is an online community where professionals across all industries and levels can exchange information about jobs, offer expertise and help others achieve their goals.
Monster will serve as the host in this community, fostering introductions between members and encouraging them to share career advice, cultivate long-term professional relationships, and support each other's goals. Proprietary matching technology will allow Monster to proactively initiate introductions between participating members as well as promote relevant career opportunities based on criteria in a member's professional profile. Member profiles will include skills, occupation, employment history, schools attended, titles, interests, and geographic location.
"The industry expects revolutionary products and services from Monster, and we're propelling our leadership further by redefining the online careers landscape," said Jeff Taylor, founder and chief monster. "In addition to leveraging the Internet as a powerful recruiting tool, consumers continue to rely on their network of friends, colleagues and peers when seeking professional guidance or advice about how to best achieve career goals. Today, we embark on a new Monster - one that serves all professionals who are looking to manage their careers, not just those seeking work."
Michael Schutzler, SVP of Consumer Products
Monster appointed Michael Schutzler, former President and CEO of Classmates.com, as senior vice president of consumer products. In this role, Schutzler will help oversee the creation and growth of Monster Networking, as well as develop value-added consumer products and services.
Schutzler is a seasoned business leader with a track record of rapid growth, start-up, and turn-around management. He brings nearly 20 years of operational experience, including eight as an entrepreneur and investor in several Internet ventures. Most recently, Schutzler served as President & CEO for Classmates.com, where he helped build a highly respected, national brand, helping to grow the membership to 35 million members.
Taylor added, "Monster Networking is an ideal combination of Monster's expertise connecting job seekers with job opportunities and Michael's experience managing and growing successful, innovative networking businesses. His background and passion for providing compelling new consumer products is a driving force helping to bring the next wave of Monster to the world."
Monster Networking is a subscription-based service that is expected to be available in Q1 of 2004.
(a)SHRM poll, Feb. 2002
(b)The results of the Monster poll are based on 22,272 votes cast by Monster users from September 29th to October 6, 2003 on the Monster.com homepage. Only one vote per user is counted toward the final tabulation.
(c) The results of the Monster poll are based on 9,722 votes cast by Monster users from September 29th to October 6, 2003 on the Monster.com homepage. Only one vote per user is counted toward the final tabulation.
Monster, headquartered in Maynard, Mass., is the leading global careers website, recording over 53.4 million visits during the month of September 2003, according to independent research conducted by I/PRO. Monster connects the most progressive companies with the most qualified career-minded individuals, offering innovative technology and superior services that give them more control over the recruiting process. The Monster global network consists of local content and language sites in the United States, United Kingdom, Canada, the Netherlands, Belgium, Singapore, Hong Kong, France, Scotland, Germany, Ireland, Spain, Luxembourg, India, Italy, Sweden, Norway, Denmark, Switzerland, and Finland. Monster is the official online career management services sponsor of the 2004 U.S. Olympic Team. More information about Monster is available at www.monster.com or by calling 1-800-MONSTER.
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of Monster (R), the leading global online careers property. The company also owns TMP Worldwide, the world's largest Yellow Pages and Recruitment Advertising agency network and provider of direct marketing services. Headquartered in New York with approximately 4,500 employees in 19 countries, Monster Worldwide's clients include more than 90 of the FORTUNE 100 and approximately 490 of the FORTUNE 500 companies. Monster Worldwide (NASDAQ: MNST - News) is a member of the S&P 500 Index. More information about Monster Worldwide is available at www.monsterworldwide.com.
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