By Chelsey Dulaney
Rosetta Stone Inc. said Thursday that Stephen Swad has resigned
as chief executive and president, effective April 1, after holding
the top executive spot since 2012.
Mr. Swad, who joined the company in 2010, will stay on as an
advisor for a period of time, while John Hass, a veteran of Goldman
Sachs Group Inc. who joined Rosetta's board in November, will take
over as CEO in the interim. Rosetta Stone said it will conduct a
search for a permanent chief executive.
In a statement Thursday, Mr. Hass said that cutting
"nonproductive" costs will remain a priority for the company. He
said Rosetta Stone plans to bring on turnaound expert Al Angrisani
to assist in its efforts.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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