Demand Media Inc (NYSE:DMD) CEO Richard Rosenblatt has announced today that he will be stepping down from the company. Rosenblatt co-founded the company seven years ago. Demand Media co-founder Shawn Colo will become the board president and interim CEO after the resignation is finalized on October 31st. James Quandt was named as the chairman, effective immediately. The board is starting to search for a permanent CEO soon.
?I want to thank everyone that helped to make Demand Media a leading content creation and media company. It has been a great honor to work with our investors, board and brilliant team over the past 7 years. I realize that all journeys must ultimately come to an end and want to wish Shawn and the entire team success as they continue to grow the business,? stated Rosenblatt.
Demand Media is also planning to continue the spin-off of their domain-services division from their online content business. The potential separation would create a new publicly traded stock for the domain division.
Demand Media owns websites like Cracked.com, eHow.com, and Livestrong.com.
[Source: Demand Media Press]