InfoSpace CEO to Step Down

Jain, a former Microsoft executive, founded InfoSpace six years ago and led the company through its rise and fall. His departure from the top posts was announced Wednesday.

With its stock now trading for dimes, InfoSpace is in danger of being delisted from the Nasdaq. The company is asking shareholders to approve a one-for-10 reverse stock split to prop up the price. If approved on Sept. 12, shareholders would trade in 10 shares of stock for one new share.

The company has had trouble retaining its top-level executives in the past, including most recently, former CEO Arun Sarin who resigned last year after just nine months on the job.

The company says Jain will remain as a company employee.

Shares of InfoSpace fell 2 cents, to close at 43 cents, Thursday on theNasdaq.

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