A series of big announcements today from AdLINK Group, the European online advertising network and marketing firm, which sold its display ad unit in July to Hi-Media, and is describing these moves as the completion of a “realignment”: CEO Stéphane Cordier, who has led AdLINK since 2002, along with COO Marc Stilke, are resigning. Tim Schumacher, the managing director of domain name marketplace Sedo, which is majority owned by AdLINK, will succeed Cordier.
The company is also buying the 24 percent of Sedo that it does not already own for 5.5 million Euros, along with 4.25 million shares of stock, from that company’s founders, including Schumacher. Meanwhile, it’s selling the shares it received in Hi-Media as part of the display ad unit sale, along with its holdings in Goldbach Media, to parent company United Internet of Germany. Proceeds from those two deals will be used to reduce the company’s debt. AdLINK is also getting a new name — which will be decided next year.
The sale of the display advertising unit came after AdLink hired Morgan Stanley in February 2008 to sell itself and it says all these moves are part of its “new focus” and “new strategy.” In addition to Sedo, AdLINK also owns affiliate marketing firm affilinet. Release.