• by Sara Guaglione , February 24, 2016

Former USA Today publisher Larry Kramer has been named interim CEO and president of financial news service TheStreet, following the resignation of Elisabeth DeMarse on Tuesday.

DeMarse resigned from TheStreet after nearly four years as its CEO and president. All changes are effective immediately. Kramer joined TheStreet Inc.’s board of directors in October 2015 and has served as its non-executive chairman since December 2015.

"We remain focused on growing both our consumer and business-to-business divisions," Kramer stated. "We plan to continue to invest in new initiatives to make TheStreet a profitable media growth company with multiple revenue streams."

Kramer added that the company will discuss its plans in more detail during a conference call following the release of earnings on March 7.

TheStreet Inc. provides business and financial news and analysis to personal and institutional investors. The company provides content and tools via its online publication TheStreet, a paid subscription financial news and commentary Web site.

According to USA Today, TheStreet’s stock has fallen 43% in the past year. Shares of TheStreet Inc. were trading lower by more than 3% on Tuesday following the company’s announcement.

Kramer stepped down as USA Today’s president and publisher in July 2015 after more than three years at the company, where he played a key part in transforming the print publication into a digital news platform. He remains on the board of the newspaper's parent company, Gannett.

The founder of CBS MarketWatch, Kramer also serves on the board of directors of Harvard Business School Publishing and is a member of the board of trustees at Syracuse University. He will join the board of MDC Partners, a marketing and communications firm, on March 1.

Kramer also served as executive editor of The San Francisco Examiner from 1986 to 1991.