TheStreet.com's CEO to Leave Company

Daryl Otte, a long-time member of TheStreet.com's board of directors, will serve as interim CEO until a permanent replacement is found.
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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.

This article was written by a staff member of TheStreet.com.