Philip R. Lochner Jr. also named to the special committee investigating the company's stock option practices.
Monster Worldwide has elected Philip R. Lochner Jr., a former member of the Securities and Exchange Commission, to its board. The online job service also says it has filed a quarterly report with the SEC that brings it up to date with all filings required by the agency.
Lochner, who served as an SEC commissioner from 1990 to 1991, assumed his new post immediately, Monster said Tuesday. He also was appointed by the board to join the special committee investigating the company's stock option practices that led to several amended quarterly reports and an amended annual report for 2005.
In filing its SEC report for the quarter ended Sept. 30, Monster has satisfied conditions set by Nasdaq for continued listing on the stock exchange, the company said.
Following his tenure with the SEC, Lochner served as senior VP and chief administrative officer for Time Warner until his retirement in 1998. He becomes the ninth member of Monster's board and the seventh independent director.
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