Robinson adds COO title to Miva role

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NEW YORK -- Online-advertising company Miva Inc. said Wednesday that CFO Lowell Robinson will take on the additional role of COO.

Robinson has been Miva's CFO and chief administrative officer since December, and has worked in media, software and technology companies for over 20 years.

The company has seen weaker results as it works to restructure operations and loses ad revenue to leaders such as Google Inc. and Yahoo Inc. The company is focusing on its toolbar segment and scaling back on less-profitable ventures in Europe.

"In the case of Miva, we are comfortable the company is tracking in the right direction, though we wish it were faster," said Craig-Hallum Capital analyst Eric Martinuzzi in an Aug. 7 client note.

Robinson has "played a critical role" in Miva's turnaround efforts, and will have a "deeper impact" in his expanded role, said Chief Executive Peter Corrao in a statement.

Miva shares rose 6 cents to close at $4.62.
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