comScore Co-Founder and CEO Gian Fulgoni to Retire
comScore co-founder and CEO Gian Fulgoni is to retire at the end of January, shortly after his 70th birthday. Following this will resume his previous Chairman Emeritus role, and provide the firm with advisory services for a further twelve months.
Fulgoni (pictured) set up the business in 1999 with Magid Abraham, who resigned as Executive Chairman of the Board in July 2016. A month later, Fulgoni was named CEO, having spent the previous two years as Chairman Emeritus, before which he served as the company's Executive Chairman of the Board. Earlier in his career, he spent nearly eighteen years at Information Resources Inc. (IRI), latterly as President and CEO. He began his career at Management Science Associates.
Fulgoni took over the CEO role last year after comScore shares plunged 35% - this followed the revelation that an audit had been set up to examine accounting irregularities. The company then reported in the audit that its previous three years' financial statements 'should no longer be relied upon'. Last month, the firm announced that the restatement process to regain compliance had been 'more complex and time-consuming' than previously anticipated, and the earliest date for completion is expected to be March 2018.
A committee, which will work with an executive search firm to help pinpoint possible internal and external candidates for Fulgoni's replacement, will be led by Board Chair Sue Riley, and will also include directors Wesley Nichols and Michelle McKenna-Doyle. Commenting on his plans, Fulgoni said: 'It's been my privilege to have led comScore as CEO through the challenges we have faced over the past fifteen months and I want to thank our employees for their focus and hard work. Further, I would like to thank Sue for her valuable work in helping to reconstitute the Board and ensure that we complete our restatement process, and I look forward to working with her and the rest of the Board to ensure a seamless transition'.
Web site: www.comscore.com .