ExciteAtHome’s Bell Steps Down
REDWOOD CITY, Calif. (AP) _ ExciteAtHome Corp. said Tuesday that George Bell will resign as chief executive but remain Excite’s chairman.
The move comes as majority shareholder AT&T Corp. consolidates its control over high-speed cable and Internet service provider.
Bell was appointed Excite’s first chief executive in January 1996 and became president following the merger of Excite and AtHome Network in 1999. Earlier this year, he was named chief executive and chairman of the board following the resignation of former board chairman Thomas Jermoluk.
The Redwood City-based company said in a statement it has formed a search committee to find a replacement for Bell as chief executive, who would remain in the job until then. Bell was expected to remain in the chairman’s post until at least the end of 2001, the statement said.
Comcast Corp. and Cox Communications Inc. in March sold their Excite stakes to AT&T Corp., which now controls a 74 percent interest in the company, up from 56 percent previously.
ExciteAtHome management in the past year has been criticized for failing to combine smoothly its merger of the Internet portal with the AtHome Internet service provider.
AT&T Corp. moved to have greater say in day-to-day operations of the company, prompting lawsuits from other cable provider partners. They were settled last month.
Shares of ExciteAtHome rose 25 cents to $16.19 on the Nasdaq Stock Market.
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