Mike Domek, the founder of TicketsNow who left the company earlier this year, probably won’t be on exiting President and CEO Cheryl Rosner’s Holiday card list this year.
In an interview with the Daily Herald newspaper in suburban Chicago, Domek had some pointed remarks for Rosner, who decided this week to step down as head of TicketsNow, first reported by TicketNews. The interview was conducted following the announcement in the fall that TicketsNow was laying off more than 60 employees, but was published this week.
“It’s actually quite sad what is happening at TicketsNow,” Domek told the Daily Herald last month. “In my opinion the confidence in the CEO will just continue to erode until she figures out that TicketsNow was first and foremost a people company. Our people and our culture are what made the company successful.”
Rosner, who held the top post for a year and a half, announced her resignation to the staff on Monday, December 8, and her last day will be December 19. She has not announced her next move; she will be replaced by current chief technology officer Shawn Freeman. He will be president but will not receive her CEO title, mainly because he will report to Ticketmaster CEO Sean Moriarty. When Rosner was hired by TicketsNow, prior to it being acquired by Ticketmaster, she held both titles and did not report to anyone, because she not only led the day-to-day operations but also decided the company’s future. Irving Azoff, recently named CEO of newly created parent company Ticketmaster Entertainment, now heads up the whole entity and Moriarty reports to him.
Ticketmaster’s stock, which trades under the symbol TKTM, received a bounce following the announcement that Rosner was stepping down, and it closed today at $4.87. See ticker below.
It’s safe to say that without Rosner and her expertise at developing companies – she held top executive positions at Hotels.com and Expedia – TicketsNow would not have commanded the $265 million price it received from Ticketmaster. But her management style chafed with some executives at TicketsNow, leading to their departures, and she remains unpopular with many broker clients.
“This business is so unique and is highly dependent upon relationships – relationships that our customer care team has spent years developing with their clients. I don’t think you can outsource relationships but that’s just my opinion,” Domek told the Daily Herald. “This was a large and strategic purchase for Ticketmaster and they are full of smart people. I have confidence they will get this figured out.”
