Demand Media CEO Resigns
Demand Media will need to make a call or several to its headhunters. The company announced that CEO and Chairman Richard Rosenblatt has resigned. His departure as chairman is effective immediately, while he will officially vacate the CEO position on Oct. 31. In his stead, the board has named Shawn Colo as interim president, effective immediately, and interim CEO as of the latter date. The company also appointed James Quandt as chairman, effective immediately.
Demand Media said it will launch a search for a permanent CEO "shortly."
Colo is a co-founder of the company, helping launch it in April 2006. He is currently its executive vice president for corporate development.
Quandt has been a Demand Media board member since 2008 and is its lead independent director. He sits on that body's audit and compensation committees. Quandt has served as co-founder and managing partner at private equity concern Thomas James Capital.
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