ValueClick CEO Suprisingly Resigns

ValueClick announced after the market close on Friday that its CEO Tom Vadnais will resign and retire effective immediately and will be replaced by its Executive Chairman and former CEO Jim Zarley. Mr. Vadnais had succeeded Mr. Zarley in 2007, promoted from his role as President of US operations.

ValueClick provided preliminary first quarter 2010 revenue and adj. EBITDA results with revenue expected to be at the mid-point of guidance at $95m, and adj. EBITDA expected to be to be at or “slightly” above the high end of the company’s $24m-$26m guidance.

The company will hold a conference call on Monday at 8am.

Mr. Vadnais improved profitability at ValueClick during his tenure as CEO but has struggled with an FTC investigation into the lead generation business, which was divested, and pressures at the comparison shopping business, which has seen several client withdrawals, notably Yahoo in the third quarter of 2009.