Regina Brady, a former FloNetwork executive, is opening Reggie Brady Marketing Solutions, Norwalk, CT, a strategic consulting firm focusing in e-mail and direct marketing.
The firm is expected to be up and running in a couple of weeks, Brady said today.
Brady was one of seven top FloNetwork executives terminated yesterday by DoubleClick Inc., New York. DoubleClick completed its acquisition of the e-mail marketing company today.
In addition to Brady, who worked as vice president of strategy and partnerships, the departing executives include Chris Keevill, president and COO: Peter Evans, vice president of marketing management; Wilson Lee, CFO; Peter Lockhart, vice president of professional services and Paul Chen, CTO.
Eric Goodwin, FloNetwork’s CEO will act in an advisory capacity to ease the transition, sources close to the situation said.
“When we announced the FloNetwork acquisition we said that there would likely be a duplication in some corporate job functions, so you’re seeing that being finalized now that the acquisition is complete,” a DoubleClick spokesperson said.
The shakeout affected offices in Toronto, Greenwich, CT, Chicago and Pleasanton, CA. FloNetwork employs about 250 employees, the majority based at its Toronto headquarters.
In February 2000, DoubleClick announced that it had entered into a definitive agreement to acquire FloNetwork.
In other news, DoubleClick has plans to sublease some of its office space at a time when other Internet and technology companies are also in the market to sublease space following waves of layoffs and falloffs in revenue.
The firm is “thinking about subletting,” on a temporary basis, about 40,000 to 50,0000 square feet at its office space at 450 W. 33rd St., according to a recent article in the Daily News.
Real estate sources however said that DoubleClick would sublease, at $45 a square foot, close to one third of its office space or 100,000 square feet, the report said.
In December the company announced hundreds of layoffs and last month announced an additional 10% cut in its workforce.
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