Rubicon Project announces CEO Frank Addante to step down with ex-Millennial Media chief Michael Barrett to take over

Ahead of its quarterly earnings call later today (March 14) adtech outfit Rubicon Project has announced that chief executive Frank Addante will step down from the role, with ex-Millennial Media chief Michael Barrett as his replacement.

Addante will remain as company chairman

Addante will remain as company chairman to "help Rubicon Project’s vision, strategy and thought leadership for the future", with the switch in leadership of the company coming a time of massive speculation over its future.

Barrett was previously the chief executive of Millennial Media, which later sold to AOL (now part of Verizon) and was also previously at the helm of AdMeld (which later sold to Google) as well as chief revenue officer at Yahoo.

"I’m excited to bring Michael on to our team as CEO. Michael understands our customers’ needs well, having led the advertising businesses for some of the largest publishers in the world and he has tremendous experience in mobile advertising and even a supply-side platform. The combination of Michael’s proven experience and natural cultural fit is why I approached Michael to lead this company as CEO through its next phase of growth,” said Addante in a statement.

"Rubicon Project has a strong leadership position, a strong balance sheet, and an aggressive and innovative product strategy. We are well positioned to become the leading independent Global Exchange for publishers, app developers and advertisers, and look forward to leading the company into its next phase of success,” added Barrett.

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