Refinery29 CEO Cory Haik is out just eight months after the former Vice Media executive took over under new ownership, and about a dozen staffers, or 10% of the company, have been laid off, Axios reported, citing people familiar with the situation.
The female-focused digital media outlet was acquired in April by Sundial Media Group, which installed named Haik as CEO. Axios says the reasons for her departure were not made clear; Sundial Media Group did not immediately respond to messages seeking comment.
Vice Media bought Refinery29 in 2019, when the fashion and lifestyle brand was making $100 million in revenue. By 2023, revenue dropped to $30 million, and its sale to Sundial was seen as an important lifeline.
Like many once-promising new media platforms, Refinery began to pivot away from digital advertising to events and branded services like paid content marketing.
Vice Media hired Haik, former publisher of Mic, as chief digital officer in 2019.
The post Refinery29 CEO Exits After 8 Months, 10% of Workers ‘Quietly’ Laid Off | Report appeared first on TheWrap.
