Gizmodo’s CEO is stepping down amid Univision turmoilNews 

Gizmodo’s CEO is stepping down amid Univision turmoil


Gizmodo’s CEO is stepping down amid Univision turmoil

The CEO of Gizomodo Media told staffers Monday that he is stepping down, the latest sign of turmoil after its parent company Univision cancelled an IPO last month.

Raju Narisetti joined as CEO of Gizmodo 19 months ago after Univision bought the assets of the former Gawker Media minus its flagship site. The sites, including Deadspin, Lifehacker and Gizmodo, were growing traffic but losing money.

“I had recently asked to step down at CEO of Gizmodo Media Group and with Univisions’s reluctant blessing will be officially leaving later this month,” Narisetti said in an email to the staff on Monday.

GMG’s Editorial Director Susie Banikarim will now have direct oversight of all GMG newsroom staff and related journalism budgets, and work with Sameer Deen, recently named as the new head of Univision Digital, to manage GMG, The Onion and Univision.com, Narisetti’s farewell memo said.


The email on Monday will probably go down as one of the lengthier departure notes on record, stretching over two pages in which he thanks over 100 colleagues by name and ended with a poem from Lao-Tzu, the Chinese philosopher behind Taoism”

“A leader is best when people barely knows he exits/Not so good when people obey and acclaim him…But of a good leader who talks little/when work is done, his aim fulfilled/They will say/“We did this ourselves.”

The change comes amid continuing executive turnover at Univision. Its CEO Randy Falco previously announced he was stepping down at year end as the Spanish language network struggles with dwindling profits. Its digital strategy, once hyped as a way to expand beyond its Spanish TV roots, appears to be struggling as well.

In March, around the time the IPO was cancelled, Fusion’s CEO Felipe Holguin and president and chief content officer Daniel Eilemberg were out. Fusion owns a TV studio and controls other Univision digital propoerties including The Onion and Gizmodo.

The Wall Street Journal and other reported last month that Fusion is facing potential staff cuts of up to 35 percent.


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