CNET: LookSmart chief resigns
IAR: LookSmart CEO Out
F2: LookSmart loses CEO, assets, staff
MediaPost: LookSmart Looking for a CEO
ITNews: Sensis snaps up LookSmart assets

LookSmart's CEO stepped down and resigned from the board. The struggling search engine has been losing ground - primarily from one major client defection - in the face of rapid search engine industry growth. Damien Smith, CEO of LookSmart Australia, was named the interim replacement.

Looksmart is paring down and shedding assets in an attempt to get lean and mean. It faces the tough task of repositioning itself while hunkering down. Sensis, a Telstra subsidiary, apparently wanted to purchase a chunk of Looksmart (the Australian search assets). If Looksmart can find a niche, perhaps it can weather the storm of industry consolidation.