INTERACTIVE ADVERTISING BUREAU (IAB) AND CFO.COM CREATE INTERACTIVE INDUSTRY CFO COMMITTEE
Forum To Identify and Recommend Solutions to Finance Issues
New York, NY - March 4, 2002 - Continuing to provide the industry with the forum to develop best practices that can help to assure the growth and profitability of the interactive advertising industry, the IAB has today announced the creation of the Interactive CFO Committee. Chaired by Mimi Capalaces, Vice President and General Manager of CFO.com, the council is a forum for finance professionals of IAB member companies to identify general finance related issues and recommend solutions. Among the broad issues that the council will address are: interpreting accounting rules as they apply to interactive media, financing opportunities, and bad debt and receivables. The committee will hold it's initial meeting in New York City on March 27, 2002.
"There is no doubt that many companies today are very concerned about managing the risks inherent in all business practices. All media associations have finance committees that help their members manage risk and share industry finance practices and solutions," said Greg Stuart, President & CEO of the IAB. "In our efforts to better support our members (while raising the bar for our industry) by providing them with the tools to succeed, this council will be an equally important tool in day-to-day operations, directly affecting the bottom line. We are still a growth industry, and sharing general financial concerns, and recommending solutions, is in our best interest."
"CFO.com is all about helping the financial leaders of business manage risk and stay up to date on the complexities of modern corporate finance. The ongoing evolution of the interactive media business presents opportunities as well as challenges " noted Ms.Capalaces. "We are enthusiastic about sharing with industry executives financial best practices and in helping IAB member companies to raise the profitability bar by adopting best practices and mitigating business risk.
The Interactive CFO Committee will meet monthly in New York and via conference call. Those interested in joining should contact either Greg Stuart at the IAB or Mimi Capalaces at CFO.com.
CFO.com is the leading web site for financial executives and is a sister property of CFO Magazine. CFO.com provides news, tools and insight in the areas of mergers and acquisitions, accounting best practices, financing techniques and other areas central to the role of today's CFO. The role of the CFO has become more complex over the past several years, and CFO.com has become a trusted source for CFOs to stay up to date on business practices, and to interact with other financial executives through community features and benchmarking tools.
CFO.com was launched in October 2000 and has approximately 200,000 unique users each month who are CFOs, VPs of finance or other senior financial executive titles. CFO.com extends the tradition of journalistic excellence set by CFO Publishing and its parent company, The Economist Group.
About the IAB
Founded in 1996, the IAB is the industry's leading interactive advertising association and represents companies that sell over 70% of online advertising, including AOL, CNET, MSN, Yahoo, DoubleClick and many others. Its activities include evaluating and recommending standards and practices, fielding research to document the effectiveness of the interactive medium and educating the advertising industry about the use of interactive advertising. Membership includes companies that are actively engaged in the sale of interactive advertising.
Marla Nitke IAB