Rainmaker Initiates Search For CEO; Silton To Continue As Chairman

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7/31/2012 6:29 PM ET

Rainmaker Systems, Inc. (RMKR: Quote) said Tuesday that its founder and Chief Executive Officer Michael Silton will continue as chairman of the company and that a search will be conducted for a seasoned software and services executive for the chief executive officer's position.

Silton will continue as CEO until such time as the new CEO joins the company. Silton will continue as chairman of the board of directors and will focus his efforts on strategy, as well as maintaining relationships with key customers.

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