Tuesday, October 15, 2013

Demand Media's Rosenblatt Resigns

In a surprise move, Santa Monica-based Demand Media said late Monday that founder, Chairman, and CEO Richard Rosenblatt has resigned from the company. Demand Media said that it has appointed Shawn Colo as interim President and interim CEO, effective immediately, with James Quandt taking the Chairman position. Reason for Rosenblatt's departure was not given. Demand Media said it will begin a search for a permanent CEO shortly. Colo was most recently Executive Vice President, Corporate Development at Demand Media, and is one of the co-foudners of Demand Media. Quandt is a co-founder and Managing Partner at investor Thomas James Capital.