Business

Marc Lasry resigns as chair of Ozy Media

Marc Lasry, Chairman, CEO and Co-Founder of Avenue Capital Group, speaks throughout the Skybridge Capital SALT New York 2021 conference in New York City, September 15, 2021.

Brendan McDermid | Reuters

Billionaire financier Marc Lasry revealed Thursday he will step down as chairman of Ozy Media, simply days after The New York Times reported the business’s COO impersonated a YouTube executive on a call with prospective financier Goldman Sachs.

Lasry, who is likewise owner of NBA champs the Milwaukee Bucks, was called chairman of Ozy Media precisely 3 weeks earlier.

“I believe that going forward Ozy requires experience in areas like crisis management and investigations, where I do not have particular expertise,” Lasry stated in a declaration revealing his relocation.

The New York Times story released Sunday night called into concern a lot of the advertising and journalistic practices at Ozy Media, a digital media start-up. According to the New York Times story and numerous follow-up reports in other outlets, Ozy Media consistently inflated its viewership numbers on YouTube and other platforms.

Most especially, the business’s board excused the habits of its COO Samir Rao who presumably impersonated the YouTube executive, by blaming the occurrence on Rao’s psychological health. The business’s board revealed Tuesday that it asked Rao to take a leave of lack while it examined the claims in the Times’ report.

This is breaking news. Please examine back for updates.

Blake

News and digital media editor, writer, and communications specialist. Passionate about social justice, equity, and wellness. Covering the news, viewing it differently.

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