LookSmart names new CEO

Web search company LookSmart named advertising sales veteran David Hills as its new chief executive, ending a 9-month search in the aftermath of losing a lucrative partnership with Microsoft. Hills will replace Damian Smith, LookSmart's interim chief since January, who plans to leave in the coming months. Smith took over from Jason Kellerman, who abruptly left LookSmart after the San Francisco company lost a deal to provide search results and advertising to MSN, which accounted for the majority of its revenue. Hills, 48, is expected to try to change the company's luck with his ties in the online media business. He was previously president of media solutions for 24/7 Real Media, an ad technology firm, and chief operating officer and president of sales for About.com.

"With the company's restructuring efforts completed successfully, and a focused plan for returning to operating profitability, LookSmart is in great shape to grow and expand its business," Hills said in a statement.