Criteo Restructures, Names Presidents for Two Divisions

Connected eCommerce platform Criteo has promoted Sherry Smith to the role of President, Retail Media; and expanded the role of CPO Todd Parsons, who is now also President, Performance Media. The firm today also announced second quarter revenue up 2% to $483m.

Criteo's AI-powered advertising platform analyses 'signals' from around 17,000 eCommerce sites, 200 global retail partners and thousands of open web publishers, accounting for more than $1 trillion in annual eCommerce sales. The firm delivers 'technology, tools, and insights' for enterprise clients, and yesterday announced a partnership bringing this data together with WPP Media's Open Intelligence platform.

The company's new structure brings product, R&D and commercial strategy together under the two promoted leaders - one overseeing Performance Media and the other Retail Media.

Parsons (pictured below) joined the company in August 2020 as Chief Product Officer, and in his expanded role will oversee the Performance Media business to deliver AI-driven, full-funnel, cross-channel, self-service activation solutions. Prior to joining he was CPO at OpenX and ad tech firm SocialCode, and he also led the Marketing Services business at Acxiom. Earlier he founded two startups, Aditive (acquired by Axciom in 2014) and BuzzLogic.

Smith (pictured above), who is promoted from the role of Executive Managing Director, Americas, will lead the development of the company's Retail Media offer through scalable monetization solutions and AI-powered technology. She also joined in the summer of 2020, and has been a driving force between its expansion into the area, leading a number of major retailer collaborations. Prior to joining she worked as CEO of GroupM division Triad Retail Media.

Both promotees will directly to CEO Michael Komasinski, who says the new structure will promote 'greater agility, sharper accountability, and a foundation for sustained performance and shareholder value creation.' He adds: 'Todd brings proven leadership in AI-driven innovation and Sherry brings a strong track record of delivering measurable client impact. In their expanded roles, they will help shape the next chapter of our growth.'

The firm says it is also conducting a search for a Chief Customer Officer.

In Q2 results reported today, Criteo's revenue rose 2%, an improvement on a flat first quarter, while adjusted EBITDA was down 4% for the quarter, to $89m, but up 11% for the first half, to $182m. Komasinski said the figure were evidence of 'disciplined execution and a solid foundation for the future.'

Web site: www.criteo.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.