: Vimeo announces departure of CEO

Vimeo Inc. VMEO on Wednesday said that Chief Executive Anjali Sud will be leaving the company at the end of August to “pursue a new opportunity.” Adam Gross, a board member, will become interim CEO on Sept. 1 while the video platform seeks a permanent replacement, the company said. Gross, in a statement, said he hoped to “accelerate and streamline the company’s strategy in making video a key part of how every business communicates with its customers, employees, and partners.” Vimeo also said it was sticking with its second-quarter and full-year outlook for sales and adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization. Shares were up 1.5% after hours on Wednesday.

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