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Buzzfeed Chairman Ken Lerer to step down

Buzzfeed Chairman Ken Lerer to step down

Buzzfeed employees work at the company's headquarters in New York. (Photo: REUTERS/Brendan McDermid/File Photo)

NEW YORK: Online news website BuzzFeed's Ken Lerer is stepping down as chairman after a decade in the role, the company said on Tuesday (Jun 25).

Lerer, along with founder Jonah Peretti, has driven the viral news website's expansion into a globally recognized media name over the past decade with its mix of serious news reporting and pop culture quizzes.

Lerer, who also co-founded the Huffington Post, is leaving the role to focus on his venture fund Lerer Hippeau, a source familiar with the matter told Reuters.

BuzzFeed's board had not yet decided if it would name a new chair.

The company cut 15 per cent of its workforce earlier this year, the source said, adding that the company was on track to become profitable in 2020.

Source: Reuters/nh

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