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TheStreet.com names Jim Cramer chairman

Market commentator and TheStreet.com co-founder Jim Cramer is given a top title, after the investor site separated the two roles of its CEO Thomas Clarke.

TheStreet.com named co-founder and high-profile market commentator Jim Cramer as its chairman, in a move to separate the dual role of its Chief Executive Thomas Clarke.

The investor Web site noted that the separation of duties will allow Clarke to focus more on his efforts as CEO, during a period when the company is moving through a difficult economic environment.

The move by TheStreet.com to separate the positions is one that corporate America has increasingly embraced, though mainly to address corporate governance issues that have become a hot button in the era of Sarbanes-Oxley.