CXO to Merge with Arizona-based Executives Network
PHOENIX, Ariz. – June 23, 2009 – In a move designed to better serve all executives, CXO—a private collaborative organization for people of influence—announced it will merge with Arizona-based Executives Network, a networking group for executives in the job search. Executives Network will become the parent company and move its headquarters to Denver. CXO will retain its moniker. The current Executives Network program for in-transition executives will be renamed Career OnTrak. This merger will be finalized by September.
Also in the plans is the forming of another organization that will address the networking needs of executives of companies below the CXO requirement of 'C-Level executives of companies with a minimum of $50million in annual revenue'.
Allen said he’s been looking for eight years for a solution for his members who become unemployed since only high-level employed executives are qualified to attend CXO events.
“We have been, and will continue to be, very focused on helping high-level executives and influential leaders network informally without vendor involvement, but we’ve never done a great job of handling the unique needs of our members who find themselves between jobs. With the current economic turmoil, it became critical that we address this important need, and the Executives Network model was the perfect answer. It will enable us to provide consistent support to our members regardless of their employment situation.”
Like CXO, Executives Network is very relationship and member focused. Its meetings have no speakers, vendors or sponsors. According to Wendell, the combined entity will provide the most efficient platform for building, sharing and leveraging influential relationships.
“There’s great synergy,” said CXO CEO Jay Allen who founded his company in July 2001. “Our two companies are just two sides of the same coin that’s finally being put together.”
“Executives Network has a great solution for executives in the job search, and CXO has the solution for those who have landed key positions,” added Allen. “We can finally address the holistic networking needs of influential executives, whether they’re employed or not. This merger will also provide us with the resources we need to expand the CXO model strategically into the other major markets in the U.S.”
CXO, a term that refers to any c-level executive, currently has approximately 2,000 members. To join, members must be the lead executive for their functional area—e.g., CEO, CFO, CIO (or CTO), CMO, HR, etc. In addition to Denver, CXO has members in Salt Lake City, Minneapolis, Phoenix, Houston and London. Virtually every billion-dollar company in these cities has a c-level executive who is a member of CXO.
About Executives Network
Executives Network is the only national peer-networking resource exclusively for executives (director, VP and C-level) in the job market today. The company was formed in Phoenix in 2002 as Arizona Executives and has quickly grown to thousands of members in 11 locations nationwide. Through monthly networking meetings, industry specific teleconferences and exclusive access to a proprietary database of professionals nationwide, Executives Network President and CEO Molly Wendell and her organization have helped thousands of executives land new positions. For more information, visit www.executivesnetwork.com.
