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September 7, 1997updated 03 Sep 2016 7:38pm

EARTHLINK CFO RESIGNS

By CBR Staff Writer

Earthlink Network Inc, says its chief financial officer, Barry Hall, has resigned to pursue other opportunities, but it would seem he was ousted due to the continued poor performance of the Pasadena, California internet service provider. Until Hall’s replacement is found CEO Charles Betty will be responsible for all financial functions at the company. The announcement came only a day after Earthlink secured $15m in a private placement whose lead taker was billionaire George Soros. The cash was sorely needed to continue a network expansion plan. The company has posted net losses of $16.1m for the first half of the year and in August had warned that it might run out of money before the end of the year.

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