By Caroline McCarthy
Dave Sifry, founder and CEO of blog search company Technorati, has stepped down from his post according to an entry on the company blog. The resignation is effective immediately; he will remain chairman of Technorati's board. Meanwhile, CFO Teresa Malo, vice president of engineering Dorion Carroll and vice president of marketing Derek Gordon will jointly run the company while seeking a new chief executive.
"Making tough choices is a daily reality," Sifry wrote. "But some choices are tougher than others, particularly when they involve one's own self." Technorati, an early entry in the blog search market, has recently been plagued by technical difficulties, revenue headaches and competition from Google Blog Search. Sifry's resignation, as he notes, was not unexpected: "For those of you who follow Technorati regularly, you know that we've been conducting a CEO search since Spring and that it was just a matter of time before I made a transition," he explained. "Rather than waiting for the process to play out, I would go ahead and transition to the board exclusively, taking on the role of Chairman of the Board."
Sifry also announced that eight members of Technorati's staff have been laid off in a move to "adjust our expense structure to be more appropriately aligned with our priorities moving forward."
"Making tough choices is a daily reality," Sifry wrote. "But some choices are tougher than others, particularly when they involve one's own self." Technorati, an early entry in the blog search market, has recently been plagued by technical difficulties, revenue headaches and competition from Google Blog Search. Sifry's resignation, as he notes, was not unexpected: "For those of you who follow Technorati regularly, you know that we've been conducting a CEO search since Spring and that it was just a matter of time before I made a transition," he explained. "Rather than waiting for the process to play out, I would go ahead and transition to the board exclusively, taking on the role of Chairman of the Board."
Sifry also announced that eight members of Technorati's staff have been laid off in a move to "adjust our expense structure to be more appropriately aligned with our priorities moving forward."
