Homestore CFO resigns

Summary:Joseph Shew, chief financial officer of Homestore.com, has resigned his post with the online realty company.

Joseph Shew, chief financial officer of Homestore.com, has resigned his post with the online realty company. Shew, who has served as Homestore's CFO since February, left for personal reasons, the company said in a statement.

After being one of the last darlings of the dot-com sector, with rapidly rising revenue and an aggressive acquisition strategy, Homestore hit a wall last quarter. The Westlake Village, Calif.-based company posted a $106.6 million, or 96 cents per share, loss in the third quarter. In late October, the company announced a reorganization that will include laying off about 700 employees, or 20 percent of its work force. --Troy Wolverton, Special to ZDNet News

Topics: Tech Industry

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