By Sabela Ojea

Arena Group terminated Sara Silverstein as its chief executive officer after less than a year in the role, and tapped Paul Edmondson as her interim successor.

The technology platform and media company, which publishes TheStreet and Men's Journal, on Wednesday said that the appointment of Edmondson, who most recently served as president of its platform unit, comes in the midst of a business transformation.

"As the company rapidly transforms, the Board believes a new entrepreneurial operational strategy is necessary to execute its exciting growth plan," the company said.

Before serving as platform-unit president, Edmondson was the company's president and operating chief.

Under the leadership of Silverstein, who took over the top job in April 2024, the company has focused on a restructuring and investments in tech and editorial.

"We're achieving meaningful revenue diversification, including a significant increase in e-commerce and other revenue, enabling a substantial improvement in profitability," Silverstein said in November.

In the latest quarter, Arena swung to a profit, but reported lower revenue.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

February 12, 2025 12:13 ET (17:13 GMT)

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