"I fully understand his desire to lighten his workload on administrative matters and he hands the Chairmanship role over to Woody at a time when our strategy is set and our future is promising," Otte said. "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."
Cramer, who founded the company in 1996, said, "I am thrilled to be handing this post to Woody, who knows our business well and I am confident will make an outstanding chairman."
The management change comes as part of a broader rebranding campaign for TheStreet, publisher of this Web site. Under the leadership of Otte since the spring of 2009, the company has been pushing increasingly into video content and other multimedia platforms with various types of news, analysis and market commentary.
Otte has been a director of the company since 2001 and took over from former CEO Tom Clarke on an interim basis in March 2009 and as a permanent replacement two months later. He is a founding partner of Montefiore Partners, a venture capital investment fund management firm, and has a long history of technology and Web investing.Marshall has a similar background. His firm, Technology Crossover Ventures, a private-equity and venture capital firm, has $7.7 billion under management. Before that, Marshall spent 12 years at Trident Capital and worked for Banque Paribas and the Chase Manhattan Bank -- Written by Lauren Tara LaCapra in New York.
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