Podcasting startup PodTech, which has been struggling with its finances, questionable content development choices and its image, today announced that it had ended its external search for a CEO and had instead promoted Chief Operating Officer James McCormick to CEO. Founder and current CEO John Furrier will continue to serve on the board of directors and lead efforts to develop new products and revenue.

“James has demonstrated the operational leadership to take PodTech to the next level” said John Furrier. “I look forward to continuing to work together, to build on our market position and capitalize on the growth and opportunity in new media.”

McCormick faces many challenges as he takes over the CEO role, including securing additional funding, increasing efficiency and refocusing the company on identifying content that can be profitably marketed.

McCormick joined PodTech in September 2006 as Chief Operating Officer. According to the company, he has been instrumental in increasing the number of customers and revenue for the company as well as helping to create the infrastructure necessary to position the company for future growth.