Richard D. Forman, Co-Founder and Former Chairman and CEO of Register.com, Inc. Resigns from Board of Directors
Register.com, Inc. (NASDAQ:RCOM), a leading provider of global domain name registration and Internet services, announced today that Richard D. Forman, co-founder and former Chairman and CEO of the company, has chosen to resign from the Company’s Board of Directors. Following Mr. Forman’s resignation, the Company’s Board elected to reduce its size to eight directors.
Mr. Forman, 40, had been a member of the Register.com board since its inception in 1994. He served as Chairman of the Board of Directors from May 1999 to September 2002, as CEO from March 1996 to June 2003, and as President from March 1998 to June 2003. His brother Peter A. Forman has been the Company’s President and CEO since June 2003.
During his tenure, Richard Forman grew the Company from under $1 million per year in annual revenue to an enterprise with over $100 million in annual revenue by 2002. He played an instrumental role in deregulating the registrar market for domain names and led Register.com to be one of the first of the five test-bed registrars to compete in the domain name registration market. In addition, under his leadership the Company went public in March of 2000.
"Building Register.com has been an amazing and powerful experience. Since stepping down as CEO in June of 2003, I have been active in a variety of technology and non-technology opportunities and, as these opportunities consume more of my time, I am comfortable that this is the appropriate time for me to move on. I wish the Company continued great success. I am a large shareholder in the Company and will always feel a strong connection to Register.com," said Mr. Forman.
"Richard’s contributions to Register.com and our success are immeasurable," said Mitchell Quain, Chairman of Register.com’s Board of Directors. "As he has shown in founding and guiding Register.com in his various roles over the last 10 years, Richard is a talented individual. We thank him for his contributions and wish him continued success."