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boston.Internet.com - February 26, 2001
Copyright 2001 Internet.com Corp. All Rights reserved.

Ex-Engage CEO Advises Startup

Former Engage (NASDAQ:ENGA) CEO Paul L. Schaut has joined Boston Internet marketing startup e-tractions as an advisor.

"(Schaut's) experience and extensive contacts in the interactive marketing industry are precisely the qualities that make him an invaluable addition to our board of advisors," said Michael Gauthier, e-tractions' president and CEO.

Schaut has more than 20 years experience at hardware and software companies, from startups to large companies. Before Engage, Schaut held management posts, including vice president of strategic partnering, at Open Market (NASDAQ:OMKT), a Burlington, Mass., content management firm.

"Based on its present ventures with companies like Shell Oil and Akamai, long-standing successful track record and forward-thinking business initiatives, I believe e-tractions will continue to raise eyebrows in coming months," Schaut said.

Schaut resigned from Engage, a CMGI-owned company, in late November. At the time, the Andover, Mass., online ad company said he was leaving to "pursue other interests."

Engage has struggled mightily since mid-2000 because of a soft market for advertising (due to ad oversupply and weak demand from both dot-coms and traditional marketers) and its own internal problems (slow integration of its sales force and a longer-than-expected sales cycle of its marketing software). Shares of the company's stock are barely above 1, way off its 52-week high of 94.5.

Schaut was replaced by Anthony Nuzzo, a 25-year managing and marketing veteran, who has aggressively cut staff (more than 500 employees) to try and halt the company's mounting losses.