Accomplished Digital Media Veterans Sarah Fay and Mark Walsh Join Board
Elisabeth DeMarse Appointed Chair
NEW YORK, May 31, 2012 (GLOBE NEWSWIRE) -- TheStreet (Nasdaq:TST), a leading digital financial media company, today announced a number of changes to the Company's Board. Sarah Fay and Mark Walsh have joined the Board, replacing Ronni Ballowe and Martin Peretz. Elisabeth DeMarse has been appointed as Chair.
"I am very pleased to be able to announce that Sarah and Mark have joined our Board," said Ms. DeMarse. "Each is a phenomenally accomplished digital media veteran and we believe the Company will benefit greatly from their unique insights.
"Sarah is a pioneer in the digital advertising industry, having served as Chief Executive Officer or President of Carat Interactive and Aegis Media North America for almost a decade. Since leaving Aegis in 2009, she has served on the boards of a number of digital advertising and marketing companies that continue to fuel rapid innovation in the sector.
"Mark has been a leading executive in the Internet industry since the sector's infancy over two decades ago. He presently serves as Chief Executive Officer of GeniusRocket, a crowdsourcing solutions provider for digital media. He previously served as Chief Executive Officer of VerticalNet, played senior leadership roles at America Online and GEnie and has served on the boards of a number of media and technology companies," said Ms. DeMarse.
Ms. Fay will serve on the Board's Nominating and Corporate Governance Committee and Mr. Walsh will serve on the Board's Audit Committee, replacing Ms. Ballowe on those committees. Vivek Shah now will chair the Nominating and Corporate Governance Committee. "When I joined TheStreet's Board three years ago, one of my main goals was to strengthen the quality of the Company's Board by attracting industry stars," said Ms. Ballowe. "With the addition of Vivek two years ago, Elisabeth in March and Sarah and Mark today, I feel I have accomplished this goal and that now would be a good moment for me to depart and free my time to focus on other ventures," said Ms. Ballowe. With the election of Mr. Walsh at the annual meeting of the Company's stockholders held today, Dr. Peretz's term as a director expired.
"I wish to thank Marty and Ronni for their service to the Board – and in particular, would like to express the Company's enormous appreciation to Marty, who co-founded the Company with Jim Cramer 14 years ago," said Ms. DeMarse. "I also wish to thank Woody Marshall for serving as Chairman of the Board for the past year and look forward to his continued, active contributions as a director. The changes announced today will assist the Company by bringing fresh perspectives and insights to the Board as we look to execute on new initiatives to grow and improve the Company's operations and create value for our stockholders. I am very excited about the Company's future prospects and I look forward to working with the Board in helping to steer the Company toward new levels of achievement," concluded Ms. DeMarse.
About TheStreet
TheStreet, Inc. is a leading digital financial media company that distributes its content through online, social media, tablet and mobile channels. The Company's network of brands include: TheStreet, RealMoney, RealMoney Pro, Stockpickr, Action Alerts PLUS, Options Profits, Chat on TheStreet, MainStreet and Rate-Watch. For more information on TheStreet's business, visit www.t.st. For financial and business news, actionable trading ideas, stock quotes and more, visit TheStreet.com via your web browser, follow TheStreet on Facebook and Twitter, visit TheStreet.mobi from your mobile device and access TheStreet through all major tablet platforms.
The TheStreet, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11420
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 with respect to the Company's new and existing directors and strategic activities and plans. Such forward-looking statements are subject to risks and uncertainties, including those described in the Company's filings with the Securities and Exchange Commission, that could cause actual results to differ materially from those reflected in the forward-looking statements. The potential risks and uncertainties include, among others, the impact of management and organization changes, the implementation and results of ongoing strategic and cost initiatives underway, the Company's dependence on key content distributors and key personnel, the Company's ability to compete with new and existing competitors, the Company's ability to protect its intellectual property and reputation, financial market conditions and general economic conditions. All forward-looking statements contained herein are made as of the date of this press release. The Company does not intend, and undertakes no obligation, to update these forward-looking statements, whether as a result of new information, future developments or otherwise.