- After about eight months in the position
- Porter Stansberry taking over
(exechange) — Baltimore, Maryland, October 23, 2023 — Amber Mason, chief executive of MarketWise, leaves her position. As announced by MarketWise Inc. in a news release published on Wednesday, October 18, 2023, and in a regulatory filing published on Monday, October 23, 2023, Amber Lee Mason has left her post as chief executive officer at the platform providing tools for self-directed investors, after about eight months in the role, effective October 17, 2023.
Generally speaking, it raises questions when a CEO leaves her post abruptly and after a short tenure.
Amber Mason’s duties as CEO will be taken over by F.Porter Stansberry, founder of MarketWise Inc.
Already a director
Stansberry has already been a member of the board of directors of MarketWise. Having been a director, Stansberry understands the expectations and dynamics of the board and has knowledge of MarketWise’s organization, risk-management practices and strategy.
Amber Mason’s move coincides with a management shake-up also involving the position of Chief Corporate Development Officer.
“To strengthen the Company’s operations and business performance”
MarketWise did not give an explicit reason for Amber Mason’s departure from the CEO post. MarketWise stated: “MarketWise, Inc. (NASDAQ: MKTW) (“MarketWise” or “the Company”), a leading multi-brand digital subscription services platform that provides premium financial research, software, education, and tools for self-directed investors, today announced a series of leadership changes to strengthen the Company’s operations and business performance.”
Precise information regarding Amber Mason’s future plans was not immediately available.
“Resigned”
MarketWise said: “Amber Lee Mason has resigned as Chief Executive Officer of MarketWise and from the Board of Directors.”
Share price decline since February 2023
The announcement follows a decline in MarketWise Inc.’s share price of 38% since February 2023. February 2023 is the month in which Mason’s tenure as CEO began.
In the position of CEO since 2023
Amber Mason became CEO of the Company in 2023.
Amber Mason was appointed to serve as the Company’s Chief Executive Officer and as a member of the Company’s Board of Directors in February 2023.
Mason joined MarketWise in 2006 and since that time, she has worked at multiple levels of the business.
She rose to become one of the Managing Partners of Legacy Research Group, a MarketWise company, and for 6 years, she successfully led that business to new levels of growth and extraordinary success.
Mason served as Vice President of Business Development in 2022 and as Chief Operating Officer for a short time in 2023, before being appointed as CEO.
Mason earned a B.A. in English Language and Literature from the University of Chicago.
No statement by Amber Mason
The announcement of her departure as CEO does not include a statement by Amber Mason.
Push-out Score for Amber Mason’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Amber Mason was pushed out or felt pressure to leave her position.
exechange reached out to MarketWise and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 44.2023 ($).