Pointcast to Name New Chief Executive

Pointcast Inc., which pioneered a new way to deliver data over the World Wide Web, said it will name today a new chief executive, whom analysts say will face some significant challenges. The move by the company, based in Sunnyvale, will end a nearly five-month search for a successor to Chris Hassett, Pointcast founder and chairman. A spokeswoman declined to elaborate on the announcement. Industry analysts said the new CEO would need experience working with Pointcast’s media partners, Times Mirror Co. and Knight-Ridder Inc., and the ability to woo investors. Last July, Pointcast raised about $36 million from Times Mirror, Knight-Ridder, Compaq Computers Corp., GE Capital and other investors, valuing Pointcast at about $250 million.