Demand Media CEO resigns

|By:, SA News Editor

Demand Media (DMD -0.2%) CEO and Chairman Richard Rosenblatt resigns.

Co-founder Shawn Colo will serve as interim President and CEO while the company searches for a replacement. James Quandt will serve as Chairman.

Demand reiterated its commitment to pursue its spin-off plan, although it is "evaluating the timing for completing the separation."