LayoffBlog.com

November 24, 2008

Xing’s CEO Lars Hinrichs Steps Down, Denies LinkedIn Is Getting Any “Real Traction” In Europe

According to Techcrunch: “Germany-based business networking service Xing today announced its CEO Lars Hinrichs will step down and be replaced by Ebay Germany head Stefan Gross-Selbeck effective January 15, 2009.

Hinrichs founded the company in 2003 and led it to an IPO three years later at the Frankfurt Stock Exchange where the market cap is currently hovering at around $182 million. (Which is a fraction of LinkedIn’s reported $1 billion private valuation). He will join Xing’s supervisory board as a consultant.”

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