Madison Square Garden CEO Tad Smith Resigns

Madison Square Garden Co. said on Monday its chief executive and president, Tad Smith, has resigned after a year with the sports and entertainment company to take a senior position with another company. Smith will remain at MSG through the end of the month while MSG searches for his successor. Smith joined MSG in March 2014 from Cablevision . MSG's stock, which was inactive in premarket trade, has gained 3.9% year to date, while the S&P 500 has declined 0.3%.