Verticalnet president-CEO and CFO resign

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Malvern, Pa.--Verticalnet Inc., a provider of collaborative supply chain software, announced Wednesday the resignation of two top executives: Kevin S. McKay, president-CEO, and John A. Milana, CFO.

McKay and Milana are stepping down following the filing of the company's third-quarter Form 10-Q with the Securities and Exchange Commission, which disclosed Verticalnet’s decision to hire US Bancorp Piper Jaffray to explore the possible sale of the company.

Verticalnet announced that Nathanael V. Lentz will serve as the company’s new president-CEO. He was formerly the company’s senior VP-strategy and marketing.

Verticalnet began dismantling its once high-flying business this past summer when it sold its vertical industry Web portal business to Corry Publishing.

--Sean Callahan

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