TicketNetwork CEO takes leave following arrest

AP News
Posted: Feb 29, 2012 9:49 AM
TicketNetwork CEO takes leave following arrest

The CEO of online ticket exchange TicketNetwork says he's taking a leave of absence, hours after Gov. Dannel P. Malloy said the state is examining a loan deal with the company following the CEO's arrest at an Oscar party.

CEO Donald Vaccaro announced Tuesday he's taking an indefinite leave and will be succeeded by company managers. He said he does not want his actions to affect the company.

Vaccaro, of Glastonbury, faces a hate crime charge after police say he made a racial insult at the party. He said he is seeking counseling and alcohol treatment.

TicketNetwork and the state announced last year a $7.75 million loan package in exchange for jobs. Malloy told reporters Tuesday that the offer hasn't been finalized and the state will assess its options.