On the eve of its second-quarter earnings report, ACTV Inc. shook up its
board of directors Wednesday, naming recently appointed CEO David Reese
chairman, replacing William Samuels.
Samuels, who stepped down from the CEO post at the end of June, will remain
on the board of directors, ACTV said in a press release.
Shares in ACTV closed Wednesday at a 52-week low of $2.17 each, dropping 12
cents from Tuesday's close.
More news that could affect the company's stock may be announced Thursday
when the company briefs analysts on its second-quarter earnings.
The interactive-television company also announced that nCUBE president
Michael Pohl will join its board and that two ACTV executives are resigning from
the board but will remain with the company. Those executives are executive vice
president William Frank and Bruce Crowley, president of ACTV's
enhanced-media-services unit.
Steven Schuster, an independent director, also resigned from the board, the
company added.
Melvyn Klein, managing general partner of GKH Partners and John Wilcox, vice
chairman of Georgeson Shareholder Communications Inc., both remain on the
board.
The moves leave ACTV with a five-member board, including three independent
directors.
Also Wednesday, ACTV named Intellocity Inc. CEO Joel Hassell chief operating
officer. ACTV acquired Intellocity earlier this year.
Samuels didn't immediately return calls Wednesday.
