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Shaheen resigns from Webvan

Foster City, Calif. -- George Shaheen recently resigned as CEO of Webvan. Shaheen was lured to the company with a stock package valued at more than $280 million in late 1999. Today, the same holdings are worth about $150,000 due to a 99% drop in stock price since the company went public. Robert Swan, COO, will lead Webvan until the board of directors appoints a successor to Shaheen.
-- Misty Milioto

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