Senior Hire, Increased Profit and New Home for Criteo

A busy week for ad targeting and retargeting firm Criteo: the company has announced Q3 revenue of $470m, the appointment of Edouard Dinichert as Chief Customer Officer, and its intention to transfer its legal domicile from France to Luxembourg.

Criteo's 'Commerce Media Platform' uses consumer purchase intent and other data from more than $1 trillion in annual commerce sales, from thousands of partners in digital and off-line retail, to help clients connect with shoppers, facilitate product discovery, and personalize experiences.

The Q3 revenue figure is flat, at constant currency, but profits increased substantially - adjusted EBITDA for the quarter was $105m, up 28% year-on-year. Revenue from Retail Media operations increased 10% at constant currency, while Performance Media revenue decreased 1% on the same basis.

Dinichert (pictured), who starts the new role on December 1st and is based in new York, will report directly to CEO Michael Komasinski and will lead global sales and operations for the Performance Media business. He brings more than twenty years of industry experience, most recently from the CRO role at TripleLift. Earlier he spent more than a decade at Amazon, where he launched and led Amazon Advertising in France and then built the global Ad Tech Sales & Services organization, encompassing Amazon DSP, Amazon Ad Server (formerly Sizmek), and Amazon Marketing Cloud adoption and growth.

Komasinski welcomes the new arrival's 'deep experience in scaling data-driven organizations and driving commercial excellence,' and adds: 'As a dual French and Swiss national, Edouard also brings a truly cross-market, cross-cultural perspective that reflects Criteo's European roots and global ambitions.'

The company hopes to achieve the intended transfer of legal domicile from France to Luxembourg in around nine months, via a cross-border conversion, replacing its American Depositary Shares structure with ordinary shares to be directly listed on Nasdaq. Criteo says it 'remains deeply committed to its teams, offices and investments in France, where it continues to play a leading role in the French technology and AI innovation ecosystem.' Board Chairman Frederik van der Kooi notes: 'The Board views these actions as an important strategic step toward unlocking significant and sustainable shareholder value. It is also a natural evolution in Criteo's journey to fully realize the benefits of our U.S. listing - a strategic move originally made by our founders to support the Company's long-term growth. Since Criteo became a public company, the U.S. equity market landscape has shifted significantly, and we are confident that, among other benefits, this initiative can reduce the complexities of Criteo's current structure, increase flexibility for share repurchases, and support potential inclusion in certain U.S. indices. With a Luxembourg domicile, we could potentially pursue a subsequent transfer to the U.S., which would enable broader eligibility for major U.S. stock indices, providing access to the massive pools of passive capital tracking these benchmarks.'

The firm notes that this 'redomiciliation' (!) will require prior consultation with its works council, and is subject to certain closing conditions, including shareholder approval by a two-thirds majority of votes.

Web site: www.criteo.com .