TheStreet.com (TSCM) (Stock Quote: TSCM), a leading online financial media company and the publisher of this 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.
(TSCM) 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.
(TSCM) A committee of TheStreet.com's board members, led by Otte, has begun a search for a new CEO, the company said.
(TSCM) TheStreet.com's stock closed last night at $2.05 a share.