Ozy Media chair quits after New York Times report that co-founder impersonated YouTube exec
CBSN
Marc Lasry, the hedge-fund billionaire and Milwaukee Bucks co-owner who was named chairman of embattled media organization Ozy earlier this month, has resigned from its board.
"I believe that going forward Ozy requires experience in areas like crisis management and investigations, where I do not have particular expertise," Lasry said in a statement Thursday. "For that reason, I have stepped down from the company's board. I remain an investor in the company and wish it the best going forward."
Ozy has seen a snowballing crisis after a New York Times story earlier this week said the company's chief operating officer, Samir Rao, impersonated a YouTube executive on a call with Goldman Sachs while attempting to raise money from the investment bank, a potential case of securities fraud. The story also questioned Ozy's claims of a large audience.
