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CMGI Bolsters Management with CFO and COO Appointments.

Business/Technology Editors

ANDOVER, Mass.--(BUSINESS WIRE)--July 10, 2001

CMGI, Inc. (Nasdaq: CMGI), the diversified Internet operating company, today announced a pair of executive officer appointments - newly named Chief Financial and Chief Operating officers - that together strengthen the foundation of CMGI's operating organization. First, CMGI announced that George McMillan, a highly experienced financial and operating executive, has joined CMGI as Chief Financial Officer. McMillan most recently served as President and Chief Executive Officer of BMG Direct, a unit of Bertelsmann AG consisting of BMG Music Service and CDNOW. McMillan replaces Andrew (Andy) Hajducky, who has stepped down from his executive-level position to pursue an external opportunity. Concurrently, CMGI announced the promotion of David Andonian, formerly President, Corporate Development, to the newly created position of President and Chief Operating Officer. Andonian's appointment is effective immediately.

As principal executive officers, McMillan and Andonian join CMGI Chairman and Chief Executive Officer David Wetherell as members of CMGI's Operating Committee, one of two executive management bodies which oversee performance management for CMGI and its subsidiaries. McMillan and Andonian also join CMGI's Executive Committee, which is responsible for cross-company policy and strategy and is comprised of Wetherell, Andonian, McMillan, the chief executives of its principal subsidiaries, and several other key CMGI corporate executives.

Andonian also chairs CMGI's ongoing project management office (PMO), the cross-functional team responsible for implementing policy and strategy consistent with the decision-making of CMGI's executive management bodies.

"I am extremely grateful for the many years Andy has dedicated to helping build CMGI and its financial organization," said David Wetherell, Chairman and Chief Executive Officer. "Having supported the bedrock upon which we now build going forward, his contributions have been many and I wish him much continued success personally and professionally."

"Going forward," Wetherell added, "we also will benefit from the powerful combination in the management team of George McMillan and Dave Andonian. Their appointments underscore CMGI's focus on financial and operating excellence."

"George brings an ideal blend of financial and operating expertise to CMGI from his combined experience in direct marketing, media and the Internet. In addition, his enthusiasm and practical knowledge will provide momentum to the efforts already underway as CMGI executes its plan for the future. His diverse background leading technology services companies will be valuable."

"David's wide-ranging management and operating experience at CMGI and his broad technology background in global enterprises is exactly what we want in a chief operating officer. I am pleased that he has assumed this important role, where he will head our program management office, continuing his leadership of initiatives which more closely align CMGI and its subsidiary companies, and stimulate cross-company operating efficiency and performance."

McMillan joins CMGI from BMG Direct, a unit of Bertelsmann AG, which he joined in 1997 as President and Chief Executive Officer. BMG Direct includes BMG Music Service - the largest record club business in the U.S. and Canada - as well as CDNOW, the leading internet-based music retailer. Prior to joining BMG Direct, from 1993 to 1997, McMillan served as Chief Operating Officer and Chief Financial Officer of Renaissance Solutions, an IT and management consulting firm providing innovative business and technology services. There he helped guide the firm from 15 members to more than 300 professionals and through three public offerings of its shares. He also guided the company through 13 consecutive quarters of rising revenue and accelerating profit and earnings per share performance. Prior to joining Renaissance Solutions, and between 1989 and 1992, McMillan was the President and Chief Operating Officer of Michigan Bulb Company, the largest horticultural direct marketer in the U.S. and Canada, with a customer base of more than 10 million. During his tenure, revenues grew more than 80 percent in three years and market share increased from 16 percent to 25 percent.

In addition to his aforementioned work, McMillan had founded his own management consulting firm, McMillan and Associates, and also served as the Chief Operating Officer of Bronner, Slosberg Humphrey Associates (now known as Digitas), a Boston-based direct marketing and advertising agency. He began his career as a management consultant at the Boston Consulting Group. McMillan received a B.A. in Economics from Stanford University, where he was elected Phi Beta Kappa; an M.B.A., with Distinction, from Harvard Business School; and a Juris Doctor, cum laude, from Harvard Law School.

David Andonian has been instrumental in CMGI's internal corporate development as well as in guiding CMGI's business development activities, including the growth and expansion of CMGI's operating companies through partnerships and strategic acquisitions. In August 1999, he assumed the lead managerial position within CMGI, Inc., reporting directly to David Wetherell. He now assumes day-to-day responsibility for operational execution across CMGI.

Andonian's experience is highlighted by a 15-year career with IBM, where he held numerous executive level positions including General Manager of IBM's high-end Desktop Systems, Vice President of Worldwide Marketing and Brand Management for Desktop Systems, and several regional sales management positions. Prior to joining CMGI, Andonian held several executive level positions with PictureTel Corporation including General Manager of its Personal Systems Division, Vice President of Worldwide Marketing, and Vice President of Worldwide Sales where he was responsible for year-to-year sales growth of 50 percent. Andonian received a B.S. from the University of Massachusetts-Amherst, School of Business Administration.

About CMGI and @Ventures

CMGI, Inc. (Nasdaq: CMGI) is a diversified Internet operating company comprised of technology, ebusiness, professional services and interactive marketing businesses. CMGI's assets include majority-owned subsidiaries and investments made through its venture capital affiliate, @Ventures. Principal subsidiaries include search-leader AltaVista Company (www.altavista.com), e-auction concern uBid (www.ubid.com) and its fulfillment sibling SalesLink, and interactive marketing company Engage, Inc. (Nasdaq: ENGA). CMGI's corporate headquarters are located in Andover, Massachusetts. @Ventures has offices there, as well as in Menlo Park, California. For additional information, see http://www.cmgi.com and http://www.ventures.com.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 10, 2001
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