Starnet Communications International yesterday announced the resignation of Meldon Ellis, who served as both company president and CEO. Chairman of the Board Fred Hazell will temporarily assume the roles while the company looks for a new CEO.
"Serving as CEO of Starnet has been a great opportunity," Ellis said. "But, I took on this role to address pressing legal and business issues and believe that the company is now on track to face all challenges."
Ellis was serving as Starnet's corporate counsel in 1999 when a series of legal blows, including a raid of the company's offices by the Canadian authorities, left the company reeling. Eleven months ago, then-CEO Mark Dohlen stepped down amid lawsuits, investigations and crashing stock prices. Ellis, with his legal expertise, was considered a good fit as Dohlen's successor.
During Ellis' tenure, numerous changes were made to Starnet's structure, the adult entertainment division was sold and the company overcame several legal potholes.
Starnet officials praised Ellis' accomplishments. "Meldon Ellis has propelled the company through a very challenging year," explained Hazell, "enhancing Starnet's competitive position by divesting non-core assets and overseeing development and launch of our new I-gaming software, Beyond2000."
Hazell added, "Under his guidance, we have successfully restructured the company and assembled a management team and board of directors of prominent business leaders from the Internet and horse racing industries. A strategic framework for strong, long-term growth is now in place."