TheStreet Moves Lower Following Resignation Of CEO Elisabeth DeMarse

Shares of

were trading lower by more than 3 percent on Tuesday after the company

that its CEO Elisabeth DeMarse has resigned from the company. TheStreet's Board of Directors appointed its Chairman Lawrence S. Kramer as Interim President and CEO. Kramer has decades of experience in public and private media companies, including founding CBS MarketWatch and holding senior positions at USA Today. "Under Elisabeth's leadership over the past four years, TheStreet re-established itself as a leading independent digital financial media company. Many of the initiatives she led, including the acquisitions of TheDeal and BoardEx, have enabled TheStreet to diversify into a broader business-to-business financial services company and not just a markets news service. The Board thanks Elisabeth for her dedicated service to TheStreet," said Jim Cramer, Founder and member of the Board of Directors. "As we look ahead to 2016, we remain focused on growing both our consumer and business-to-business divisions," said Larry Kramer, Chairman of the Board. "We plan to continue to invest in new initiatives to make TheStreet a profitable media growth company with multiple revenue streams. We will talk more about that during our conference call following the release of our earnings on March 7, 2016. To help support these initiatives, we will begin our search immediately to identify a full-time replacement who has a strong background in digital media and financial information services and a track record of generating superior results."