In a shakeup at Federated Media Publishing, CEO Deanna Brown announced today that she'll be departing the company, leaving current executive chairman and former CEO John Battelle to return to the position.
The announcement is part of a larger series of changes for Federated, which just last November laid off 24 employees and shuttered its direct sales business in favor of programmatic buying and native advertising. In a blog post Battelle notes that the business has "had its challenges" of late.
Battelle notes that Brown approached him a few months ago about moving on to a smaller role focused on content creation. As far as his decision to come back as CEO, Battelle chronicled the thought process in his blog post writing, "and then it hit me – quite literally in mid-sentence while on a Board call. Why the hell don’t I simply step back in? I love this company, I am passionate about the Independent Web, and to be honest, I see a huge opportunity in front of us."
In a statement, Brown noted, "I’ll be announcing my next venture in a couple weeks, so stay tuned for that news.”
Here is the full statement from the company:
Today Deanna Brown announced she is leaving her role as CEO of Federated Media Publishing – John Battelle will assume the duties of CEO in addition to his current role as Executive Chairman of the Board. John founded FMP in 2005 and is eager to lead the company as it embraces a rapidly evolving industry landscape. Brown is heavily invested in FMP and she will be working closely with Battelle throughout the month of March to ensure a seamless transition.
As the leader of FMP for the past three and a half years, Brown and team have successfully diversified FMP’s revenue streams, rolled out new product offerings and restructured core business processes. She and [the] team were also responsible for growing FMP’s network which now outranks Yahoo!, AOL and Microsoft in audience reach according to comScore.
“I’m thrilled with the way that Federated Media Publishing is currently positioned and am tremendously excited to take on a more active role in the business,” said John Battelle. “Our conversational marketing and programmatic offerings are now a standard for scores of Fortune 500 brands and I look forward to sharing our story firsthand with key advertising, publishing and industry partners.”
“FMP continues to lead the industry in both premium and programmatic opportunities for publishers and advertisers and I'm truly proud of what we’ve accomplished as a team over the past few years,” said Deanna Brown. “As for me, I’ll be announcing my next venture in a couple weeks, so stay tuned for that news.”