Ozy Media’s chairman resigns as company faces questions.

The chairman of the Ozy Media board resigned on Thursday, saying he lacked the expertise in “disaster administration and investigations” to proceed main the company.

Marc Lasry, a hedge fund supervisor who can be a co-owner of the Milwaukee Bucks, made the announcement 4 days after The New York Instances reported that somebody from Ozy appeared to have impersonated a YouTube government throughout a convention name with Goldman Sachs bankers whereas making an attempt to lift $40 million {dollars}.

Ozy’s chief government, Carlos Watson, instructed The Instances that the individual had been Samir Rao, the company’s co-founder and chief working officer. Through the name, the supposed YouTube government praised Ozy, saying it was an awesome success on the platform. Mr. Watson attributed the incident to a psychological well being disaster. Mr. Rao has not replied to questions on his function on the decision.

“I consider that going ahead Ozy requires expertise in areas like disaster administration and investigations, the place I don’t have explicit experience,” Mr. Lasry mentioned in an emailed assertion. “For that purpose, I’ve stepped down from the company’s board. I stay an investor within the company and want it one of the best going ahead.”

Ozy, which made its debut in 2013, presents itself as a well-liked millennial media company. It traders have included Emerson Collective, the group run by Laurene Powell Jobs, and Axel Springer, the publishing large based mostly in Berlin. Ron Conway, a Silicon Valley investor and an early Ozy backer, mentioned this week that he had returned his shares to the company.

On Tuesday, the Ozy board mentioned it had employed the regulation agency Paul, Weiss, Rifkind, Wharton and Garrison to research the company’s “enterprise actions” and management group.

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