Larry Kramer, named interim chief executive officer of TheStreet.com earlier this week, will receive compensation of $35,833 per month while in the position, according to a Securities and Exchange Commission filing on Thursday.
While he is interim CEO, Kramer will no longer serve as a member of the financial news firm’s audit committee or the nominating and corporate governance committee, according to the 8-K filing. The company’s board has appointed Keith B. Hall as a member of the nominating and corporate governance committee.
Kramer currently serves on the board of Gannett Co. and previously served as president and publisher of USA Today from May 2012 to June 2015. Prior to joining Gannett, he was a media consultant and adjunct professor of Media Management at the Newhouse School of Communications at Syracuse University.
From March 2005 until March 2008, he served in a number of positions at CBS, including president of CBS Digital Media. Prior to joining CBS, he was chairman, CEO and founder of MarketWatch Inc. until its sale to Dow Jones in January 2005.
He was founder, executive editor, and president of Data Sport Inc. from 1991-1994 and joined Data Broadcasting Corp. as vice president in 1994 following its acquisition of Data Sport. Prior to founding Data Sport, he spent more than 20 years in journalism as a reporter and editor, including as assistant managing editor and metro editor of the Washington Post and editor of the San Francisco Examiner.
While a journalist, he won several awards for reporting, including the National Press Club Award, and while an editor, his staffs won two Pulitzer Prizes. Kramer serves on the board of directors of Harvard Business Publishing and the board of trustees of Syracuse University.
As part of her departure, former CEO Elisabeth DeMarse will receive $1.1 million and accelerated vesting of options to purchase 36,470 shares of TheStreet stock, according to the filing.
The filing can be read here.
