Kevin Delaney, editor-in-chief of Quartz and one of the co-founders of digital publishing, steps down as part of the slackening of the company's leadership.
Quartz announced the change on Monday, adding that another of its co-founders, Zack Seward, has become CEO. Earlier, Mr Delaney shared this role with publisher Jay Lauf, who was named head of the company on Monday. Katie Weber, previously Chief Commercial Officer, was promoted to president in a series of steps.
The work of the editor-in-chief remained open, and Quartz said he was looking for a new one. Mr Delaney will leave his role at the end of the month and remain an advisor to the company.
Designed by Quartz as a heartfelt transition, the leadership of the change, however, has raised questions about the company that suffered losses this year as it moves away from its reliance on advertising to a subscription-based business model.  These steps represent the first major turnover on the site that covers business news since it was sold last year by its founder, Atlantic Media, to Japanese financial intelligence company Uzabase. At that time, the announced sale price was $ 75 million to $ 110 million. Uzabase, which also owns NewsPicks business news aggregator, said it has acquired Quartz to expand its news operations abroad.
The digital news landscape, littered with unsuccessful startups and outdated places that have struggled or failed to make the transition from On the Print Page, quartz was a rare thing: a recognizable digital news brand built from scratch.
He made his debut in 2012 with about 20 journalists and created a niche that caters to readers interested in the intersection of the business and technological worlds as the technology industry boomed into its modern place of influence. From a global perspective, it offers six editions of its main site: Quartz, Quartz at Work, Quartz Africa, Quartz India, Quartz Lifestyle and Wellness Site and Graphic Atlas.
Quartz averages about 20 million According to internal reporting, unique views per month, nearly half come from outside the United States. According to financial data, over the first six months of this year, Quartz lost more than $ 24 million to $ 18 million, partly due to difficulties in the online advertising market. Google and Facebook together account for more than 60 percent of all online advertising dollars, making it difficult for digital publishers to succeed, even those who have a strong readership.
Uzabase started paying in November last November, charging $ 99. The company says it plans to invest about $ 18 million in these efforts, and will likely continue to see losses this year.
There has never been a Quartz without Mr. Delaney as Editor-in-Chief. Before creating the site, he expanded the digital operation of The Wall Street Journal as editor of his website. Prior to that, he was a newspaper reporter covering companies such as Google and Yahoo. Previously in his career, he was a reporter for SmartMoney, a personal business magazine published by Dow Jones and Hearst from 1992 to 2012, and a television producer in Montreal.
"I am really proud of how Quartz has fundamentally helped to rethink the media industry's approach to journalism, products and advertising – and link with tens of millions of readers around the world," Mr Delaney said in a statement.
This is an evolving story. It will be updated.