Monster CEO resigns

NEWYORK: Monster Worldwide, Inc today announced that founder Andrew J. McKelvey, 71, has resigned as Chairman and Chief Executive Officer. Mr. McKelvey will remain on the Company's Board of Directors and has been elected Chairman Emeritus.

The Company's Board of Directors has promoted William M. Pastore, 58, to the position of Chief Executive Officer and appointed him to the Board of Directors effective immediately.

Mr. Pastore joined Monster Worldwide as Chief Operating Officer (COO) in October of 2002 and was promoted to President and COO in February 2006. In these roles, he has directed all of the Company's operations, overseeing strategic planning and tactical execution in North America, Europe and Asia.

Prior to joining Monster Worldwide, Mr. Pastore directed operations, sales and marketing, technology, and customer service areas for Cigna Healthcare. He also spent nearly 25 years with Citibank, N.A., where he held numerous senior roles of increasing leadership and operational responsibilities.

Monster Worldwide stated that the Board of Directors has established an Executive Committee of independent Board members, consisting of Sal Iannuzzi, Chairman of the Committee, John Gaulding and Ron Kramer.