BALTIMORE, Oct. 18, 2023 (GLOBE NEWSWIRE) -- MarketWise, Inc. (NASDAQ:MKTW) ("MarketWise" or "the Company"), a leading multi-brand digital subscription services platform that provides premium financial research, software, education, and tools for self-directed investors, today announced a series of leadership changes to strengthen the Company's operations and business performance.
- The Board of Directors of MarketWise appointed MarketWise founder F. Porter Stansberry as Chairman of the Board and Chief Executive Officer, effective immediately.
- Amber Lee Mason has resigned as Chief Executive Officer of MarketWise and from the Board of Directors.
- Mark Gerhard and Riaan Hodgson, both members of the MarketWise Board of Directors, have resigned their positions, effective immediately.
- Marco Ferri, Chief Corporate Development Officer of MarketWise, was terminated without cause effective October 13, 2023. Mr. Ferri will remain with the Company as a consultant.
- The Company has announced that it will initiate an internal review of current operations with the intent to enhance alignment, improve efficiency, and increase cash flow and intrinsic value of the business.
- The Company announced a regular dividend to shareholders of Class A common stock of $0.01 per share. A comparable distribution of $0.01 per unit has also been approved to holders of MarketWise, LLC units. The dividend and distribution, which totals approximately $2.9 million in the aggregate, will be paid on January 25, 2024, to shareholders and unitholders of record as ...