WebMD Health Corp. says CEO Wayne T. Gattinella has resigned, and the healthcare information website operator expects earnings to be significantly lower in this year.
The New York company also says it has stopped talking to potential acquirers about a possible sale of the company.
Its shares plunged 24 percent to $27.76 in premarket trading Tuesday.
Chief Financial Officer Anthony Vuolo will serve as interim CEO while the company looks for a permanent replacement.
The company says its 2012 revenue may fall by 2 percent to 8 percent as some of its drug company customers deal with patent losses that hurt revenue by exposing their products to generic competition.
WebMD also expects expenses to rise in the new year and its earnings will be significantly lower than in 2011.