<B>PaperExchange CEO Resigns</B>

Late last week Ken Dolby, CEO of PaperExchange, resigned. He was named to the post roughly one year ago. The resignation follows PaperExchange’s decision to lay off around 14 percent of its staff several months ago.

Bob Brenner, PaperExchange's current chief technology officer, is being promoted to the CEO post. Duane Desisto, currently CFO and chief operating officer, will become president.

December 2000
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