Has the Internet craze ground to a halt? Market conditions being what they are today in the Internet space, the very companies that lured powerful industry executives to their fold a couple of years ago are starting to see departures of those key management team leaders. One example: Tony Ibarg%FCen.
Ibarg%FCen is the managing director at Internet Capital Group, Wayne, Pa. The company made headlines less than two years ago when it snagged Ibarg%FCen, who had previously been president and COO of distributor Tech Data, Clearwater, Fla. But Ibarg%FCen has decided now is the time for a change. Leaving ICG is not an easy decision for Ibarg%FCen, who continues to be enthusiastic and positive about the Internet space.
While Ibarg%FCen is back on the market, no one expects him to be there for long. "I will likely get back into an operating-type role," Ibarg%FCen confirms. "Probably a CEO position." While nothing is set in stone just yet, Ibarg%FCen has found several opportunities that interest him and will likely solidify his plans in the next few weeks. He would like to continue to work in the Internet space and says he has no plans to return to Tech Data. Having moved to the Philadelphia area during his stint with ICG, Ibarg%FCen says he's happy there and intends to stay.
Currently, Ibarg%FCen is transitioning his role from an active managing director at ICG to that of a venture partner.