In tandem with its Q3 report, Digital River (DRIV) announces founder Joel Ronning has resigned...

|By:, SA News Editor

In tandem with its Q3 report, Digital River (DRIV) announces founder Joel Ronning has resigned as CEO, and will step down as chairman by year's end. Lead independent director Thomas Madison has been named interim CEO, and a search has begun for a full-time replacement. Q4 guidance is for revenue of $96M-$100M and EPS of $0.25-$0.31, below a consensus of $101.6M and $0.37. (Q3 PR)