Criteo Announces CEO Succession Plan

Rhea-AI Summary

Criteo S.A. (NASDAQ: CRTO) has announced that CEO Megan Clarken plans to retire within the next 12 months. Clarken will continue as CEO until a successor is named and will then step down from the Board. She has agreed to remain as a senior advisor to ensure a smooth transition. The Board has initiated a search for a new CEO, engaging Heidrick & Struggles to assist in the process.

Board Chair Rachel Picard praised Clarken's leadership over the past five years, highlighting her role in Criteo's transformation into an end-to-end AdTech platform for Retail and Commerce Media. The Board expressed confidence in the company's strategy and senior leadership team. Clarken stated her pride in Criteo's accomplishments during her tenure, including navigating industry challenges and building differentiated capabilities that have positioned Criteo as a Commerce and Retail Media powerhouse.

Positive

• CEO succession plan in place, ensuring leadership continuity
• Successful transformation into an end-to-end AdTech platform
• Strong position in Retail and Commerce Media sectors
• Board's confidence in current strategy and senior leadership team

Negative

• Potential disruption during leadership transition
• Uncertainty surrounding future strategic direction under new CEO

NEW YORK, Aug. 26, 2024 /PRNewswire/ -- Criteo S.A. (NASDAQ: CRTO), the commerce media company, today announced that Chief Executive Officer Megan Clarken has informed the Board of Directors of her intention to retire within the next 12 months. To ensure a smooth transition, Clarken will continue to serve as CEO until her successor is named, at which time she will also step down from the Board. Clarken has also agreed to remain with Criteo in a senior advisor role providing services until any necessary transition is complete.

The Board has initiated a search and engaged Heidrick & Struggles, a leading executive search firm, to assist in the process of identifying and evaluating both internal and external candidates. 

"On behalf of the entire Board, I want to extend our deepest gratitude to Megan for her strong leadership, deep passion and critical contributions to Criteo over the past five years," said Rachel Picard, Chair of Criteo's Board of Directors. "She has been instrumental in Criteo's growth and has led the successful transformation of the Company to become the end-to-end AdTech platform of choice in Retail and Commerce Media. As a result of her leadership and the team that she has built, Criteo is positioned to continue to capture market share and capitalize on emerging trends in the AdTech market. The Board remains fully confident in the Company's strategy as well as its senior leadership team, and through our ongoing succession planning, we are committed to appointing a new CEO who will continue to drive our ambitious vision forward. We greatly appreciate Megan's support in ensuring a smooth transition."

"I'm incredibly proud of what we've accomplished during my time as CEO of Criteo," said Clarken. "It is an honor to work with the Criteo leadership team and so many exceptionally talented people. Together, we have navigated complex industry challenges and built differentiated capabilities that have transformed the company into a Commerce and Retail Media powerhouse. We have dedicated ourselves to the greater good of the industry and have transformed our Company into a global leader in the AdTech space. Working closely with the Board, I look forward to continuing to lead Criteo with my full focus, while ensuring that the succession is seamless."

About Criteo

Criteo (NASDAQ: CRTO) is the global commerce media company that enables marketers and media owners to drive better commerce outcomes. Its industry leading Commerce Media Platform connects thousands of marketers and media owners to deliver richer consumer experiences from product discovery to purchase. By powering trusted and impactful advertising, Criteo supports an open internet that encourages discovery, innovation, and choice. For more information, please visit www.criteo.com.

Contacts

Criteo Investor Relations
Melanie Dambre, m.dambre@criteo.com

Criteo Public Relations
Amanda Echavarri, a.echavarri@criteo.com

OR

Camilla Scassellati-Sforzolini, Warren Rizzi
FGS Global
Criteo@FGSGlobal.com

View original content:https://www.prnewswire.com/news-releases/criteo-announces-ceo-succession-plan-302230765.html

SOURCE Criteo S.A.

FAQ

When is Criteo CEO Megan Clarken planning to retire?

Megan Clarken has announced her intention to retire within the next 12 months from Criteo (NASDAQ: CRTO).

Who will replace Megan Clarken as CEO of Criteo?

Criteo's Board has initiated a search for a new CEO, engaging Heidrick & Struggles to assist in identifying and evaluating both internal and external candidates.

What has been Megan Clarken's impact on Criteo during her tenure?

Megan Clarken has led Criteo's transformation into an end-to-end AdTech platform for Retail and Commerce Media, positioning the company as a leader in the AdTech space.

Will Megan Clarken remain involved with Criteo after stepping down as CEO?

Yes, Megan Clarken has agreed to remain with Criteo in a senior advisor role to ensure a smooth transition after stepping down as CEO and from the Board.