YTB International Inc. said Thursday that its chief financial officer, John Clagg, resigned effective Tuesday.
The Wood River, Ill.-based multilevel marketer of travel agent Web sites said CEO Robert Van Patten would also serve as interim CFO until a permanent successor is found for the financial post.
Clagg had served as the company’s CFO since December 2005 and prior to that had been CFO of subsidiary YTB Marketing since December 2003.
"John was a well-respected and vital member of our executive team and the value he contributed to the organization is immeasurable,” Van Patten said in a statement. “His leadership will undoubtedly be missed. The company wishes him the very best in his future business endeavors."
Clagg’s departure is the latest in a number of executive changes at the firm in the last year and comes as the company entered into a new loan agreement last week.
Source: Bizjournals
