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Salon CEO resigns

Michael O'Donnell has resigned as president and CEO of Salon Media Group, publisher of the Web magazine, for undisclosed reasons. O'Donnell will be replaced by Salon founder and Chairman David Talbot, while Salon's chief financial officer, Elizabeth Hambrecht, will become president.

O'Donnell had been with Salon since 1996, first as publisher and then as CEO in 1999, when the company went public. Salon stock now trades over the counter, closing Thursday at 5 cents a share. "I'm grateful for the opportunity to work at Salon over the past seven years and be a part of the development of publishing on the Internet," O'Donnell said in a statement.