Criteo announces leadership changes to drive growth strategy

NEW YORK - Criteo (NASDAQ:CRTO), the $1.2 billion market cap advertising technology company currently trading near its 52-week low, announced Wednesday the appointment of two executives to expanded leadership roles as part of a strategic organizational restructuring aimed at accelerating growth. According to InvestingPro data, the company maintains a perfect Piotroski Score of 9, indicating strong financial fundamentals.

Todd Parsons, who joined the company in 2020 as Chief Product Officer, will now serve as Chief Product Officer and President of Performance Media. Sherry Smith has been promoted from Executive Managing Director, Americas to President of Retail Media.

The restructuring consolidates product, R&D, and commercial strategy under these two leaders, with Parsons overseeing AI-driven performance media solutions and Smith leading the company’s retail media business. Both executives will report directly to CEO Michael Komasinski.

"Todd brings proven leadership in AI-driven innovation and Sherry brings a strong track record of delivering measurable client impact," said Komasinski in the press release. "This new structure will enable greater agility, sharper accountability, and a foundation for sustained performance." The company’s solid financial position is evidenced by its healthy balance sheet, with cash exceeding debt and strong cash flows to cover interest payments. Discover more insights about Criteo’s financial health and growth potential with a InvestingPro subscription, which includes access to 15+ additional ProTips and comprehensive analysis.

Parsons, who previously held leadership positions at OpenX and SocialCode, has been instrumental in Criteo’s AI and data innovation efforts over the past five years. Smith, who joined Criteo in 2020, previously served as CEO of Triad Retail Media and has been central to the company’s retail media expansion.

The company is also conducting a search for a Chief Customer Officer to focus on maximizing client value across its platform.

Criteo, which connects brands, agencies, retailers, and media owners through its AI-powered advertising platform, reported having access to more than $1 trillion in annual commerce sales data.

In other recent news, Criteo has been actively engaging in several strategic partnerships and leadership changes. The company has announced a new collaboration with WPP Media to enhance commerce intelligence in Connected TV advertising, leveraging Criteo’s commerce signals from 17,000 e-commerce sites. Additionally, Criteo and Mirakl Ads have formed a partnership to improve retail media for marketplace sellers, aiming to help retailers monetize their marketplaces more efficiently. In another development, Criteo has expanded its global partnership with dentsu to integrate its Commerce Media Platform across dentsu’s agency network, enhancing commerce and performance media campaigns.

On the leadership front, Criteo has appointed Wilfried Schobeiri as Senior Vice President, Head of Product, Performance Media. Schobeiri will lead efforts to transform Criteo’s performance media offerings into a full-funnel, cross-channel, self-service platform for marketers. In terms of financial expectations, Benchmark has lowered its price target on Criteo to $42, citing retail media concerns, but maintained a Buy rating. The research firm anticipates Criteo’s second-quarter adjusted EBITDA to align with expectations, with potential modest upside from favorable foreign exchange tailwinds. These developments highlight Criteo’s strategic moves to strengthen its position in the commerce media landscape.

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