BuzzFeed Ropes In Melanie Summers From Driver Studios As SVP, Consumer Products

BuzzFeed Inc BZFD hired Melanie Summers, previously a chief brand officer of content licensing company Driver Studios, to the role of SVP of consumer products effective January 10, AdWeek reports.
Summers will lead global brand licensing and product development efforts at BuzzFeed, which officially includes Complex Networks.
Recently, CEO Jonah Peretti named Christian Baesler as COO, in addition to the role of CEO of the recently acquired Complex Networks.
Baesler then tapped Edgar Hernandez, formerly the CRO of Complex Networks, to serve as CRO of BuzzFeed, and Ken Blom, formerly the SVP of ad strategy and partnerships, to the role of EVP of business strategy and operations.
BuzzFeed moved SVP of commerce Nilla Ali to the role of EVP of commerce.
The organizational restructuring was BuzzFeed's attempt to streamline its commercial operations into a more cohesive unit, allowing the resulting team to eliminate its weaknesses and amplify its strengths, the report added, quoting Baesler.
Price Action: BZFD shares traded higher by 9.65% at $4.43 on the last check Friday.