November 3, 2000 - Chicago -- Classified Ventures, Inc., a leading provider of online classified advertising products, today named Daniel A. Jauernig, 35, President and Chief Executive Officer. He previously was Executive Vice President of the company. Mr. Jauernig replaces David G. Israel, who resigned to pursue another business opportunity.
"Dan's financial expertise, operating experience and leadership skills are well suited to the company's needs during this point in its history, " said Donald E. Graham, Chairman and Chief Executive Officer, The Washington Post Co. and a member of the Classified Ventures Board of Directors. "We also thank David Israel, who ably led Classified Ventures from a start-up company into a leading player in the online automotive and real estate classified advertising categories."
Mr. Jauernig joined Classified Ventures as Executive Vice President in April and assumed a wide range of strategic planning and operating responsibilities.
"I am very excited about the opportunity to lead CV to its next level of growth," said Jauernig. "My vision as CEO is to continue to develop high quality online classified advertising products for our affiliates and trade customers. Our strategic advantage in these very competitive categories is the local market advantage we have through our affiliate network of online newspapers."
Jauernig joined Classified Ventures from the former Toronto-based Newcourt Credit Group, a $25 billion global financial services company acquired by the CIT Group in November 1999, where he served as its chief financial officer as well as president of the Newcourt Services division. As chief financial officer, he had overall responsibility for managing the capital structure of the company, which included numerous equity offerings and Newcourt's largest joint ventures. He participated and served as a Director in a venture between Dell Computers and Newcourt Credit Group Inc. that created Dell Financial Services, a $2 billion lender that underwrites and funds all Dell Computer's financed sales. He also served as a Director of Snap-on Credit, a $1 billion joint venture between Snap-on Corporation and Newcourt Credit Group, Inc.
He is an award-winning graduate of the University of Waterloo, Canada, where he earned a Bachelor of Mathematics in 1988, and an accredited Canadian Chartered accountant and Certified Management Accountant.
"Classified Ventures has been a great company to lead and an exciting period of my career," said David Israel, departing President and Chief Executive Officer. "And I am confident about handing the reins to Dan Jauernig, who made significant contributions to my management team."
Classified Ventures creates and markets leading nationally branded online marketplaces that are the Internet's #1 destinations for buyers and sellers of cars and homes. Its Web sites also are carried exclusively by its local affiliate network of more than 134 newspaper-related online Web sites.
The sites include, cars.comT(www.cars.com), Apartments.comT (www.apartments.com), HomeFinder.comT (www.homefinder.com), NewHomeNetwork.comT (www.newhomenetwork.com) and MovingCenter.comT (www.movingcenter.com). Classified Ventures also operates HomeHunterT, a local resale real estate service on several Web sites of its newspaper affiliates. Classified Ventures, Inc., based in Chicago, is owned by six leading media companies - Gannett Co., Inc., Knight Ridder, The McClatchy Company, The New York Times Company, Tribune Company and The Washington Post Company.
Contact at Classified Ventures:
Classified Ventures
Vice President
Corporate Communications312.601.5611
312.286.7639