Demand Media Announces Resignation Of Richard Rosenblatt As CEO - Quick Facts

(RTTNews) - Demand Media (DMD) announced the resignation of Richard Rosenblatt as CEO, effective October 31, 2013, and as Chairman, effective immediately.

The company said its board has appointed Shawn Colo as interim President, effective immediately, and as interim CEO, to be effective upon Rosenblatt's resignation. James Quandt has been appointed Chairman, effective immediately. The board will begin a search for a permanent CEO shortly.

Demand Media's board also confirmed its commitment to pursue its previously announced spin-off plan which was disclosed in February 2013, although the company is evaluating the timing for completing the separation.