IVillage.com, facing rising losses and a falling stock price, said Candice Carpenter will step down as CEO Aug. 1, with president Doug McCormick taking over as chief executive. Ms. Carpenter, who had shared the title of co-chairperson with Editor-in-Chief Nancy Evans, now will serve as chairman. IVillage announced the move as it reported second-quarter results. The women's site reported a net loss of $37.3 million on revenue of $19.4 million, vs. a loss of $15 million on revenue of $6.4 million a year ago. Mr. McCormick, a former president-CEO of women's cable channel Lifetime Television, joined iVillage in April as president. IVillage said Ms. Carpenter "will continue to be involved in the company's long-term strategic direction including developing global partnerships, building corporate alliances and leveraging the brand into other media," while Mr. McCormick "takes over the full management and operations of the company." IVillage announced the change July 27 after the stock market closed. IVillage closed July 27 at $6.53, near its all-time low and 88% off its 52-week high. The company's investors include America Online and General Electric's NBC.
Copyright July 2000, Crain Communications Inc.