Jim Cramer, a co-founder of TheStreet.com and host of “Mad Money” on CNBC, has stepped down as chairman of the board of the financial news site’s parent company.
Cramer will remain on the board, but he’s being replaced as chair by Christopher “Woody” Marshall.
Marshall is general partner at Technology Crossover Ventures, a private equity and venture capital firm with $7.7 billion under management focused on information technology companies. Prior to joining TCV in 2008, he spent 12 years at Trident Capital, a leading venture capital and private equity firm focused on the software, business services and Internet markets.
In a statement, Cramer said, “I am thrilled to be handing this post to Woody, who knows our business well, and I am confident will make an outstanding chairperson.”
Palo Alto, Calif.-based Technology Crossover Ventures invested in TheStreet.com in 2007. According to the company’s most-recent proxy statement, Marshall has been a director of TheStreet.com since August 2009.
Technology Crossover Ventures owns more than 5 million shares, or 15.9 percent, of TheStreet.com, making it the company’s largest investor. Cramer is the second-largest investor, with 4 million shares, or 12.8 percent.
