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LinkedIn interim president named CEO

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CIOL Bureau
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SAN FRANCISCO, USA: Social networking Internet service LinkedIn said on Wednesday that interim President Jeff Weiner will take over as chief executive officer, six months after the company's co-founder stepped into the role.

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Co-founder Reid Hoffman will remain executive chairman of the company, whose website focuses on professional networking and career-building.

LinkedIn also said it expects to be profitable in 2009, as it was in 2008, and that its number of global members recently exceeded 42 million.

LinkedIn has raised more than $100 million in funding from backers which include Sequoia Capital, Greylock Partners and Goldman Sachs.

Weiner, a former Yahoo Inc executive who recently served as "executive in residence" at venture firms Greylock Partners and Accel Partners, joined LinkedIn as interim president in January. The move followed the resignation of then-CEO Dan Nye.

Since Weiner's start in January, LinkedIn said that he has overseen all operations and played a key role in developing the company's global growth plans.

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