NEW YORK: Charlie Morin, CEO of PR Newswire (PRN) since 1999, has resigned to focus on a small "business venture," said a company press release.
Charles Gregson, executive director for United Business Media - PRN's parent company - and former PRN chairman, has assumed the position of interim CEO.
David Armon, president of the Americas for PRN, confirmed, "It has been made clear that Charles will only hold the position temporarily."
Gregson will split his time between London and New York until a permanent replacement is found. The company is currently in the process of hiring a search firm.
Morin is still "available for transitional purposes," according to Armon, but left the company within one week of announcing his resignation. He joined PRN in 1989 as CFO.
In the wake of the announcement, open communication with employees was made a priority. Conference calls were held with regional management teams, which then relayed the news to their staff members.