BuzzFeed's Marcela Martin has announced her intention to resign as president effective January 12 to pursue other opportunities, the digital media firm said on Friday.
The company is unlikely to look for a replacement as the president's responsibilities will be absorbed by the CEO and other executives.
Martin's departure, which comes closely after the exit of CFO Felicia DellaFortuna in November, was not due to any disagreement with the company, BuzzFeed said in a regulatory filing.
BuzzFeed, which shuttered its news unit in April, was founded in 2006 by Jonah Peretti and John Johnson, and went public in 2021 through a blank-check merger.
The news division of BuzzFeed was once viewed as a serious challenger to legacy media companies and won a Pulitzer Prize in 2021 for coverage of China's mass detention of Muslims, but it failed to find a working business model and was a consistent money loser.
Like other digital media outlets, BuzzFeed's reliance on advertising made it susceptible to downturns as marketers shifted to TikTok and other social media platforms.
Ozy Media sued BuzzFeed along with another news media outlet Semafor and its founder Ben Smith last week for allegedly stealing trade secrets from the now-shuttered U.S. media and entertainment company.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Featured Video Of The Day
On India's Push For Nuclear Energy, An Update From Nirmala Sitharaman
Turmoil At BuzzFeed, Vice Signals Crisis In The World Of Free Digital Media BuzzFeed To Close News Operations BuzzFeed, HuffPost To Shed More Than 200 Jobs In New Round Of Layoffs 3 Students Dead After Flooding In Delhi Coaching Centre Basement At Olympics Opening Ceremony, Drag Parody Of 'The Last Supper' Draws Flak Kamala Harris Cuts Down Donald Trump's Lead Sharply, Show Latest Polls Will Quit Politics If Attempts Are Made To Disturb Reservation: Praful Patel DSSSB Exam Schedule 2024 Released For Recruitment To Various Posts AAP's Atishi Calls For Meeting After Delhiites Complain Of Blue Tap Water Track Latest News Live on NDTV.com and get news updates from India and around the world.