TheStreet.com (TSCM), a leading online financial media company and the publisher of this Web site, announced today that CEO Thomas J. Clarke, Jr. will leave the company.
Daryl Otte, a member of TheStreet.com's board of directors since 2001, will serve as interim CEO until a permanent replacement is named, the company said in a release.
Jim Cramer, chairman and cofounder of TheStreet.com, said in the release: "I want to thank Tom for his long-time service to the company and wish him the best of luck in his future endeavors."
Otte, 47, is a founding partner of Montefiore Partners, a venture capital investment fund management firm. Prior to founding Montefiore Partners in 2000, Otte was senior vice president and member of the executive committee of Ziff-Davis. During his service at Ziff-Davis, Otte initiated and managed acquisitions and development projects and venture investments, including some of the early commercialization efforts of the Internet.A committee of TheStreet.com's board members, led by Otte, has begun a search for a new CEO, the company said. TheStreet.com's stock closed last night at $2.05 a share.