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CEO of embattled Web-tracking firm NebuAd leaves

September 03 06:05:01 AM, Yahoo News

AP - The chief executive of NebuAd Inc., whose Web tracking technology raised a privacy backlash, has left the company to be chief financial officer at Verifone Holdings Inc., a maker of payment processing equipment.

Verifone said late Tuesday that Robert Dykes will become senior vice president, effective immediately. He will become CFO after the company files its financial report for the latest quarter.

NebuAd has marketed a technology that allowed Internet service providers to track their subscribers' Web surfing habits and deliver ads presumed to meet their interests. Several U.S. ISPs tried out the technology, but most have withdrawn as privacy advocates and members of Congress raised concerns.

In a statement, NebuAd said its new CEO would be Kira Makagon, who had been the company's president. Dykes will remain chairman. NebuAd also said it would broaden its market to encompass "more conventional media channels." A spokeswoman was unavailable to elaborate on Wednesday morning.

At San Jose, Calif.-based Verifone, Dykes faces another challenge. The previous CFO, Barry Zwarenstein, stepped down after the company uncovered a series of financial misstatements that exaggerated its profits during the first three quarters of fiscal 2007. The mess is under investigation by the Securities and Exchange Commission.

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