MaxWorldwide Appoints CFO

NEW YORK — MaxWorldwide, formerly L90, has hired William H. Mitchell as its chief financial officer.

He replaces Thomas A. Sebastian, who resigned in March after being placed on administrative leave amidst an SEC probe [IQ Daily Briefing, March 21].

Before joining the New York-based online and offline media and marketing agency, Mitchell was CFO of software company, Tally Systems Corp. He began his financial career at Price Waterhouse, where he became a certified public accountant. He has served as svp of finance at TKR Cable, svp and chief operating officer of Tele-Communication Inc.’s Atlantic Division and evp and CFO of Bigfoot Interactive.

The Securities and Exchange Commission is currently wrapping up an investigation of MaxWorldwide started earlier this year to determine if the company overstated or misstated its revenues. The company concluded an internal investigation in May and as a result said it intended to restate its operating results for the quarter ended Sept. 30, 2000, the year ended Dec. 31, 2000, and the quarters ended March 31, June 30 and Sept. 30, 2001.