L90 CFO Resigns

NEW YORK — A week after being placed on administrative leave, L90 chief financial officer Thomas A. Sebastian has resigned, the company said Thursday. No replacement has been made.

Separately, the Los Angeles-based online media and direct-marketing outfit formally terminated its merger agreement with eUniverse and paid undisclosed merger-related expenses to the interactive entertainment network. In light of an ongoing SEC probe into financial records of L90, L.A.-based eUniverse called off the merger last week [IQ Daily Briefing, March 12].

A week ago, L90 president and CEO John C. Bohan also stepped down; He was immediately replaced by Mitchell Cannold, formerly chief operating officer of Space.com.