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IAB Chief Steps Down
The Interactive Advertising Bureau (IAB), the association whose remit includes standards and guidelines for online ad measurement, has announced the departure of its CEO. Greg Stuart will leave the association at the end of 2006 to pursue new opportunities, with a successor to be sought immediately.
Stuart, who has been with the IAB since late 2001, leaves on a high note - the announcement comes just days after a major endorsement of the IAB's research standards by advertisers, and praise for its 'proactive stance' from the CEO of advertisers' association the ANA (DRNO www.mrweb.com/drno/news5819.htm ). 'Greg has been a tremendous leader of the IAB and has done a fantastic job on behalf of the entire interactive industry' comments Chairman of the Board Jim Spanfeller. 'While we are disappointed to see Greg leave, we support him in his decision and wish him great success in his future endeavors.'
Revenues for the interactive ad industry have increased to an expected $16bn in 2006 with a 38% increase year-on-year last quarter alone, according to Sheryl Draizen, the organisation's SVP and General Manager. 'Research has proved the efficacy of online advertising, and the IAB has released a number of critical standards and guidelines further cementing the future of the business. As an organization, we are completely committed to accomplishing the 2006 initiatives that are well under way as well as planning for 2007 priorities.'
The IAB was founded in 1996 and represents over 250 leading interactive ad companies, accounting for over 86% of online advertising in the US. It announced its Global Ad Impression Measurement Guidelines in November 2004, offering a detailed definition for counting an online ad impression and an industry-driven third-party auditing and certification recommendation. The association is online at www.iab.net .
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