Modem Media Names CFO

Interactive shop Modem Media has tapped Frank Connolly to fill the CFO post vacated by Steve Roberts in August.

Connolly comes to the Norwalk, Conn.-based company from E-Sync Networks, where he served as chief financial officer.

Connolly takes the financial reins at Modem Media at a particularly volatile time for the Internet sector, given the recent economic downturn and belt-tightening in interactive spending. Last month, Modem Media projected flat fourth quarter revenues of $36 million, down $1.8 million from Q3. To free up cash, the company cut 36 employees, reduced office space in San Francisco and Tokyo and unloaded a majority of its interest in marketing technology company Centrport.

Modem Media stock (MMPT) closed Monday at $3, up 9 cents. Its 52-week high is $56.94 and low is $2.50.