CompuServe's CEO and president Robert Massey has resigned, as the online service provider tries to turn a profit.
Frank Salizzoni, chairman of CompuServe and president and CEO of H&R Block, which owns 80% of CompuServe, will temporarily take over Massey's duties, officials said in a statement. The company is searching for a replacement.
The nation's second largest online service provider, CompuServe went public last year and posted a US$58 million quarterly loss for its second fiscal quarter last November. As part of its "Back to Basics" strategy, CompuServe announced plans to cancel its WOW! consumer service and focus its flagship CompuServe Interactive service on the business market in the U.S. and on the business and consumer markets in Europe.