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Koten out at Mansueto Ventures

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New York—Mansueto Ventures CEO John Koten has stepped down, according to various media reports.

Mansueto Ventures publishes Inc. and Fast Company. Both magazines struggled in the first quarter, with Fast Company down 28.8% in ad pages and Inc. down 46.7% compared with the first quarter of 2008.

Fast Company had a strong 2008, with pages up 23.9% compared with 2007, and Inc. was off just 0.8% in ad pages.

In addition, Gawker published two memos recently sent by Koten to staffers, including one that scolded employees for not asking him how he had become a success in business.

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