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BuzzFeed President Marcela Martin resigns

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BuzzFeed’s Marcela Martin has announced plans to step down as president effective Jan. 12 to pursue other opportunities, the digital media company announced Friday.

The company is unlikely to seek a replacement, as the president’s responsibilities will be carried out by the CEO and other executives.

Martin’s departure, which comes shortly after that of Chief Financial Officer Felicia DellaFortuna in November, is not due to any disagreements with the company, BuzzFeed said in a regulatory filing.

BuzzFeed, which closed 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.

BuzzFeed’s news division was once considered a serious competitor to traditional media companies and won a Pulitzer Prize in 2021 for its coverage of China’s mass detention of Muslims, but it has failed to find a model effective salesman and constantly lost money.

Like other digital media outlets, BuzzFeed’s reliance on advertising made it vulnerable to downturns as marketers shifted to TikTok and other social media platforms.

Ozy Media sued BuzzFeed along with fellow news outlet Semafor and its founder Ben Smith last week for allegedly stealing trade secrets from the now-shuttered American media and entertainment company.

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