Marc Lasry resigns as chair of Ozy Media after 3 weeks following reports of alleged misconduct at firm

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  • Billionaire investor Mark Larry announced on Thursday that he would be stepping down as president of OG Media, just three weeks after taking the job.
  • His resignation comes after a damning New York Times report that said the Ozzie Media COO had impersonated a YouTube executive on a call with potential investors.

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Billionaire investor Mark Larry announced Thursday that he will step down as president of Ozzy Media, just days after The New York Times reported the company’s COO impersonating a YouTube executive on a call with potential investor Goldman Sachs. after.

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Larry, who is also the owner of the NBA champion Milwaukee Bucks and CEO of Avenue Capital Group, was made president of OG Media just three weeks ago.

“I believe that moving forward, OG needs experience in areas such as crisis management and investigation, where I do not have specialized expertise,” Larry said in a statement announcing his move. He said he remains an investor in OG Media.

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The New York Times story, published Sunday night, questioned several propaganda and journalistic practices at digital media start-up, Ozzy Media. According to a New York Times story and several follow-up reports in other outlets, Ozzy Media regularly increased its viewership on YouTube and other platforms.

Notably, the company’s board condoned the behavior of its COO, Sameer Rao, who had allegedly impersonated a YouTube executive by blaming the incident on Rao’s mental health. The company’s board announced on Tuesday that it had asked Rao to take a leave of absence, investigating claims in a Times report.

This is breaking news. Please check back for updates.

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