• by Ray Schultz , January 2, 2024

Marcela Martin has resigned as president of Buzzfeed, effective Jan. 12, according to a filing with the SEC.  

The company is not seeking a replacement. Martin’s responsibilities will be absorbed by the CEO and other members of the management team. 

Martin will pursue other opportunities, the filing says. There was no disagreement with the company about policies, operations or practices. 

Having resigned, Martin is not entitled to severance benefits, but the firm will accelerate vesting of 235,920 stock units on Jan. 12 that would have otherwise vested on Feb. 1. These reflect the right to receive shares of Class A common stock.

In other Buzzfeed news, Seeking Alpha reports that the company is close to selling its Complex Networks business for more than $100 million less than the $150 million it had hoped to get. In addition, it may have to sell additional assets to cover debts that come due in December 2024, the report continues.