ValueClick CEO Tom A. Vadnais steps down, shares fall after hours

ValueClick CEO steps down, shares fall

WESTLAKE VILLAGE, Calif. — Web advertising company ValueClick Inc. said its CEO, Tom A. Vadnais, is retiring and resigning effective Friday, to be replaced by James R. Zarley, who’d been serving as executive chairman.

Vadnais, who’d served as CEO since 2007, also stepped down as director, a position he has held since 2001. He will be available as a consultant to Zarley for the rest of the year.

Zarley had been an angel investor in ValueClick and served as chairman and CEO from 1999 to May 2007.

Martin T. Hart, a director, will now serve as chairman, the company said.

ValueClick also said it expects first-quarter revenue at the midpoint of its previously announced guidance range of $93 million to $97 million.

Analysts surveyed by Thomson Reuters are expecting higher revenue of $97.9 million.

Shares fell 82 cents, or 8.2 percent, to $9.19 in after-hours trading. The stock had closed up 4 cents at $10.05.