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Billionaire businessman and chairman of the board of directors of Ozy Media, Marc Lasry, resigned on Thursday, less than a week after the New York Times published a report revealing that a top executive of the company impersonated a YouTube staff member while addressing investors.
“I think to move forward, Ozy requires experience in areas like crisis management and investigations, where I don’t have any particular expertise. For this reason, I resigned from the board of directors of the company. I remain an investor in the company and wish it the best for the future, ”Lasry said in a statement obtained by Axios.
Lasry, CEO of Avenue Capital and co-owner of the Milwaukee Bucks, has been called a “lead investor” in Ozy by co-founder and CEO Carlos Watson, although sources told Axios that Lasry only invested approximately $ 1 million in a single funding round.
Another early investor in Ozy, SV Angel, reportedly divested his shares in the company shortly after the Times report was released.
Lasry’s resignation comes just days after veteran reporter Katty Kay announced she had resigned from the media company after finding the details reported by The Times to be “deeply disturbing.”
“Yesterday morning I handed in my resignation to Ozy Media,” Kay wrote on Twitter. “I was looking forward to working with the talented young reporters but I did not expect it!”
In the Times report on Sunday, sources said Ozy co-founder and COO Samir Rao impersonated Alex Piper, head of unscripted programming for YouTube Originals, when a conference call with potential Goldman Sachs investors, discussing Ozy’s success. On the platform.
When Goldman Sachs contacted Piper directly afterwards, they discovered that he had never been present on the call.
Watson reportedly apologized profusely to Goldman Sachs after the revelation and later said that Rao experienced a mental health crisis at the time.
“I’m proud that we stood by him as he struggled, and we’re all happy to see him thrive again,” Watson said of Rao.
The Hill has contacted Ozy for comment.
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