TheStreet.com chief executive officer Elisabeth DeMarse resigned from the financial news and information company on Tuesday and has been replaced on an interim basis by former Marketwatch.com founder Larry Kramer.
All changes are effective immediately. The company has engaged an executive search firm to assist in identifying a full-time replacement.
TheStreet’s chief business officer left the company in December, and it named a new chief financial officer in January. In addition, the company’s editor in chief changed in September. In July, a large investor in the company had called for DeMarse’s resignation.
Kramer, a director of TheStreet since October 2015 and chairman since December 2015, has decades of leadership experience as the founder, executive and board member of public and private media companies. Kramer founded and led CBS MarketWatch.
Most recently, Kramer was the president and publisher of USA Today where he transformed the newspaper from a largely print publication to a leading digital news platform.
DeMarse took over in March 2012. She previously served as CEO of Bankrate and CreditCards.com.
“Under Elisabeth’s leadership over the past four years, TheStreet re-established itself as a leading independent digital financial media company,” said Jim Cramer, a founder of TheStreet.com, in a statement. “Many of the initiatives she led, including the acquisitions of TheDeal and BoardEx, have enabled TheStreet to diversify into a broader business-to-business financial services company and not just a markets news service.”
TheStreet’s shares were trading Tuesday morning at $1.08, down 6 cents, and have fallen 63 percent in the past two years.
