CEO Richard Moore not renewing contract.
Richard Moore is stepping down as chief executive officer of Dark Blue Sea (ASX: DBS) effective at the end of June. Dark Blue Sea is parent company of Fabulous, a popular domain name registrar and domain parking service for domainers.
According to a press release (pdf), Moore will work part time with the company in an executive director role. Moore has been CEO of the company since 2001.
The company has promoted current chief financial officer Gregory Platz to the CEO position starting in July. Platz has been CFO since the company was founded in 1999.
Like many companies in the domain industry, Dark Blue Sea has faced challenges over the past two years. It’s share price topped $1 (AUS) back in November 2007 but has steadily fallen to just $.20 today. The company has been considering strategic options for its businesses, including its Fabulous unit.
At last count the company owns about 400,000 domain names in its own portfolio. It sells some of these domains through its Domain Distribution Network and has a long term deal with domain registrar GoDaddy to offer its domains for sale in response to consumer registration searches.