Ask Jeeves, Inc. (Nasdaq: ASKJ) slipped 1 5/8 to 20 Wednesday after the online search company said President and Chief Operating Officer Ted Briscoe resigned.
Briscoe is leaving to become chief executive of privately-held Play Streaming Media Group. He will stay with Ask Jeeves through the end of the quarter to help with the transition as the rest of the management team takes over his responsibilities.
Briscoe joined the Emeryville, California-based Ask Jeeves as chief marketing officer in January 1999. “Ted has been a great asset and among the key contributors to Ask Jeeves’ success,” said Chief Executive Officer Robert Wrubel.
Ask Jeeves shares are trading near a 52-week low, as are those of many Internet companies. Ask Jeeves, which traded as high as 190 1/2 last November, lost $47.2 million, or $1.48 per share, in the fourth quarter ended March 31st, compared with a loss of $5.9 million, or 33 cents, in the same quarter a year earlier.