Source Media CEO James Malkin has confirmed that Bruce Morris, a long-time president of the company’s banking and corporate groups, has left the company. “Bruce is a seasoned and experienced publishing executive,” said Malkin in an e-mail to Folio: Alert, which reported last week that Morris was out as the result of a company restructuring. Attempts to reach Morris were unsuccessful. His name, this week, was removed from the contact information on the company’s Web site.

Malkin said Morris is being replaced by Jeff Scott, whose background is more in-line with the company’s investment and initiatives in on-line strategy and development. “Jeff is a seasoned business executive with deep experience in technology and information services,” Malkin added.