Current CEO Erik Sorenson Appointed Chairman of the Board

New York, NY, (December 7, 2009) Vault.com, Inc. today announced the appointment of Claude Sheer to CEO, effective today.  As CEO, Mr. Sheer will run the day-to-day operations at Vault.  Current CEO Erik Sorenson has been named chairman of the board and a strategic consultant to the company.  The announcement was made by Mr. Sorenson and Trent Hickman, managing director at Veronis Suhler Stevenson, which is the majority owner of Vault.  

 “We are pleased to welcome Claude to the Vault team.  He has an impressive 20+ year track record of building media and technology businesses,” said Mr. Hickman.  “With the economic clouds beginning to part, his skills, experience and strategic relationships will be central to driving the next phase of growth and success for this company."

Founded in 1996, Vault is the Web’s most comprehensive resource for career management and job search information. VSS purchased a majority stake in the company in 2007.

"Over the past two years, we have made substantial advancements in our products, systems and talent, including the launch of a completely new and content-rich Vault website,” said Mr. Sorenson.  “With these improvements in place, I am enthusiastic about the potential for Vault in 2010 and look forward to working with Claude and the Vault team to capture those opportunities.”

“I am excited to be joining the Vault family,” said Mr. Sheer.  “I look forward to working with Erik, the board, and the staff to move Vault forward in the coming years.  The current recession and the perception of a jobless recovery have resulted in a more competitive career environment than ever before.  As an essential resource to anyone serious about managing their career, Vault has positioned itself to take full advantage of the emerging economic recovery and the increasingly robust capabilities of the web.”

Mr. Sheer is a media executive with a strong track record for building and growing businesses.  For most of the 80's and 90's, he worked at Ziff-Davis where he managed its largest and most profitable operating division, Z-D Publishing.  As a new decade began, Mr. Sheer incubated and invested in technology and service businesses through a venture capital firm he founded, including TheNewsMarket, LiveWave and EnvoyWorldWide.  

More recently, he served as Interim CEO at Beliefnet.com before helping to sell it to News Corporation in 2007 at a substantial profit.  He has also served on the boards of companies ranging from Lionbridge Technologies to MenuPages.com and authored Creating New Growth Platforms which was published in 2006 in Harvard Business Review.  

About Vault
Vault is the web’s most comprehensive resource for career management and job search information, including insider intelligence on salaries, hiring practices and company cultures. Vault features thousands of profiles on occupations, industries, companies and universities, as well as career-related articles, videos, blogs and research tools.  The company publishes more than 120 print and online titles, from the best-selling Vault Guide to the Top 100 Law Firms to the Vault Guide to Schmoozing. Vault’s clients include Fortune 1000 advertisers and recruiters, the country’s top universities and graduate schools.

CONTACT:
Jon Minners
jminners@vault.com
646-792-6205