Terra Lycos, one of the world’s largest internet firms, has lost yet another senior manager, bring the recent toll to four.
The resignation of chief executive Abel Linares is the latest high-level resignation since the Spanish internet company merged with the US portal Lycos last autumn. Linares had been due to become vice president of special projects in Terra Networks.
Earlier this month Bob Davis, the founder of Lycos, resigned from his post as chief executive, but became a non-executive vice chairman of the board. The chief financial officer of Terra Lycos, Ted Philip, left at the same time as Davis, but stayed on as senior vice president of strategic planning and M&A. Shortly afterwards, Ron Sege, president of US operations, followed suit.
Shares in the company fell when the news was announced, but recovered slightly later in the day.
Terra Lycos hosts internet networks in the United States, Canada, Europe, Asia and Latin America, and is the third largest Internet access provider in the world.