media trough M&M Global.“
Rubicon Project narrows business scope as seven executives leave22.02.2017
Rubicon Project president Greg Raifman is leaving the company as part of a broader shake-up to narrow the company’s business focus, with six other unnamed executives also set to depart.
Raifman will remain on the board of directors.
In an open letter by chief executive Frank Addante, he said the recent executive departures are part of a broader refocusing of the company on its “ad exchange” business, targeting tech at ad sellers and online publishers instead of ad buyers.
“As an industry leader, we believe in always keeping our eyes firmly focused on what truly matters – our team and our customers,” he added.
“We are focusing on our core business strengths and mission which has resulted in a profitable business, with almost $200m in cash on hand, and continued market share growth and success of the company for the past 10 years.”
Addante went on to thank the people who are departing for their many contributions to the business, adding that these moves are the final steps in the restructuring initiative and will enable Rubicon to reallocate resources to invest in growing its marketplace, as well as technology, research and development.
“We are committed to ongoing communication as we transition into this new operating model. I am confident that these necessary changes, along with the strength of Rubicon Project’s premium technology platform and value proposition in the global marketplace, has the company poised for success in 2017,” he said.
“It’s important to keep in mind that building a great business is not easy. We have had to make, and will continue to make some tough, but necessary changes to our organization to ensure our continued success.”
News Corp announced the sale of its stake Rubicon Project in an SEC filing earlier this month.
Read our Lucky 13 interview with Rubicon Project’s managing director, UK and Nordics, James Brown here.