Jim Cramer Steps Down as Chairman of 'TheStreet'

Christopher P. "Woody" Marshall has been elected chairman of the board at TheStreet, the company announced Wednesday.

Marshall will replace founder Jim Cramer. According to the company, Cramer assumed the chairmanship in 2008 to help steer the company through a transition period and now wants to reduce his administrative workload and focus on his role as a stock market commentator. Cramer will remain on the board.

Cramer is a graduate of Harvard Law School and former employee of Goldman Sachs.