ValueClick

(VCLK)

named Tom A. Vadnais president and said Chief Operating Officer Jeffrey A. Pullen was resigning effective June 30.

Vadnais, who joined ValueClick in 2001, will continue his work as general manager of the company's Affiliate Marketing and Technology businesses. He will report to Chief Executive Jim Zarley, who along with Vadnais is taking on the duties of chief operating officer.

"I have the utmost confidence in Tom's leadership abilities and the direction that we will take the company," Zarley said in a press release. "His business acumen, executive-level leadership and knowledge of online marketing services are valuable assets to ValueClick."

Last month,

The Wall Street Journal

reported that merger talks between ValueClick and rival online advertising outfit

aQuantive

(AQNT)

collapsed. ValueClick also raised 2006 guidance and announced a big stock buyback after reporting mixed first-quarter results.

Both companies continue to benefit from the huge interest in online advertising. Merrill Lynch is forecasting that both search and display advertising spending will both increase more than 30% this year.

Shares of Westlake, Calif.-based ValueClick fell 30 cents Wednesday to $14.89.