Names New CEO, Restructures Internet Postage Business on Friday announced that it has reduced its current headcount by approximately 25% in a continuing
effort to streamline operations and achieve profitability. It also announced the appointment of Ken McBride as president and CEO.

" remains committed to maximizing shareholder value. Today's employee reductions accelerate the company's timetable for achieving cash flow breakeven," said's new president and CEO, Ken McBride.

Interim president and CEO Bruce Coleman presided over since October 2000, a period of time marked by continual transition for the company.
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