Greg Raifman, president of the Rubicon Project, has joined a wider executive exodus at the firm which has already seen six senior staff head for the exit door as the ad tech firm streamlines its business.
The boardroom shake out will see Raifman remain on Rubicon’s board of directors but will cease management of its day to day business in light of a spate of job losses at the firm, most recently with 125 people axed in November and the closure of its Toronto office, announced in January.
Speculation remains rife that a potential sale could be being worked up behind the scenes but the company remains tight-lipped on the matter.
Instead chief executive Frank Addante maintains that the spate of departures has been necessitated by the need to restructure the business around its core ‘ad exchange’ work which sells its technology to ad sellers and online publishers directly, bypassing ad buyers.
Outlining the state of play in a letter to investors Addante wrote: “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.”
The bulk of the departures stem from the sales and marketing side of the business.
The exodus of senior staff from Rubicon began in earnest in March last year when Rubicon Project's GM Jay Stevens departed, ending a seven year tenure at the firm, as revealed by The Drum.