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Article: CEO BOB DAVIS QUITS TERRA LYCOS SAYS MANAGEMENT STRUCTURE OF MERGED ENTITY POSES HURDLES, TO JOIN VENTURE CAPITAL FIRM
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- February 2, 2001
- Author:
CopyrightCopyright 2001 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Seeking more autonomy, Terra Lycos chief executive Bob Davis quit
to join a venture capital firm yesterday, just three months after
completing the sale of his Waltham Internet portal to a unit of
Spain's Telefonica SA.
Davis will join Highland Capital Partners of Boston. He'll receive
roughly $5 million in severance pay from Terra Lycos, a source said,
under terms of the merger agreement.
His departure creates a new hurdle for Terra Lycos and its
lycos.com Web site, which Davis, a former computer salesman, had
guided from a two-man start-up in 1995 into one of the world's most
popular Internet destinations.
While its financial outlook is healthier than that of other dot-
coms, shares in ...