Demand Media® (NYSE: DMD) today announced that Senior Vice President, Finance and Treasurer Mel Tang will be promoted to Chief Financial Officer effective August 16, 2012, and that concurrently Demand Media’s President and CFO Charles Hilliard will become Special Advisor to the Board of Directors. The company also announced that it is reaffirming its financial guidance for the second quarter ending June 30, 2012, and full year ending December 31, 2012.
“Mel has been an integral part of our team since 2006 and this promotion is well deserved. His leadership skills, strategic insights and financial acumen will be important contributors to our future success,” said Richard Rosenblatt, Chairman and CEO, Demand Media. “Over the past five years, Charles has played an instrumental role in building Demand Media and its operations, leading our IPO, and placing the company on solid financial ground. We thank Charles for his many valuable contributions and look forward to working with him as Special Advisor to the Board of Directors.”
Tang is being promoted from his role as Senior Vice President, Finance and Treasurer, where he has been responsible for financial planning and analysis, and the treasury function for Demand Media. Prior to joining the company, Tang was a Director in the media investment banking group at UBS, worked at early stage venture capital firm Prime Ventures, and was an investment banking analyst at Donaldson, Lufkin & Jenrette. Tang graduated magna cum laude from the University of Pennsylvania, where he earned dual Bachelor of Science degrees in Finance and Mechanical Engineering.
“I look forward to working more closely with our executive team, Board and stockholders in this new position,” said Tang. “Innovation and financial discipline have helped make Demand Media a leader in content and social media, and I am excited to carry forward that legacy as we take the company to its next level of growth.”