Financial media company TheStreet.com, Inc. (NASDAQ:TST) announced today that Christopher P. (Woody) Marshall has been appointed as the Chairperson of the company. Marshall is replacing Jim Cramer for the position. Cramer will remain on the board of directors. Below is the full press release:
TheStreet?s Board of Directors Appoints Woody Marshall as Chairperson
NEW YORK–(BUSINESS WIRE)–TheStreet.com, Inc. (Nasdaq: TST (TheStreet.com)), a leading digital financial media company, announced today that its Board of Directors has appointed Christopher P. (Woody) Marshall as its Chairperson, effective immediately. Marshall steps in for founder and markets commentator Jim Cramer, who has served in the role since 2008. Cramer will remain on the Company?s Board and will continue in his editorial role with the Company. Cramer recently entered into a new three-year employment arrangement with TheStreet.
Marshall has over 15 years of experience in the technology and Internet sectors. He currently serves as a General Partner at Technology Crossover Ventures (“TCV”), a leading 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.
Daryl Otte, CEO of TheStreet, said, ?We are excited to have Woody increase his commitment to the Company through his new role as Chairperson. His ability to identify companies where he sees strong, sustainable business models, coupled with a proven track record at helping them recognize untapped value over the long-term, will be an asset to our Company. Woody is the ideal person to lead our Board during this time of growth at TheStreet.?
Otte added, ?The other board members and I want to thank Jim for his service to the Company as Chairperson. He has been an integral player in helping the Company realize its vision of being a leader in the digital financial media space ? which he helped pioneer by founding the Company in the early days of the commercial Internet ? and he has provided outstanding leadership to the Board. I fully understand his desire to lighten his workload on administrative matters and he hands the Chairperson role over to Woody at a time when our strategy is set and our future is promising. We look forward to continuing to work with Jim as a Board member, and, as importantly, letting him focus even more intently on creating the great content that our users love in our websites and services, including Action Alerts PLUS and RealMoney.?
Marshall added, ?As an active Board member and long-term investor, I have both followed and participated in TheStreet?s evolution over the years. I believe the Company is on the right path and as its new Chairperson, I am eager to help contribute to its future successes. TCV and I believe in the business as much as we did when we invested in it in 2007.?
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.?
TheStreet.com, Inc. is a leading digital financial media company that distributes its content through online, social media, tablet and mobile channels. The Company’s network of brands include: TheStreet, RealMoney, Stockpickr, Action Alerts PLUS, Options Profits, ETF Profits, MainStreet and Rate-Watch. For more information on TheStreet?s business, visit www.t.st. For financial and business news, actionable trading ideas, stock quotes and more, visit TheStreet.com via your web browser, follow TheStreet on Facebook and Twitter, visit TheStreet.mobi from your mobile device and access TheStreet through all major tablet platforms.