Criteo appoints new chair, expands board with industry veterans

NEW YORK - Criteo S.A. (NASDAQ:CRTO), a commerce media company with a market capitalization of $1.58 billion and an impressive perfect Piotroski Score of 9 according to InvestingPro, announced today the appointment of Frederik van der Kooi as the new Chairperson of its Board of Directors, succeeding Rachel Picard. Van der Kooi, a Microsoft veteran, has been a member of Criteo's Board since June 2023 and brings extensive experience in digital advertising to his new role.

Additionally, the company has nominated Stefanie Jay, a former senior leader at eBay and Walmart, for election to the Board at the upcoming Annual General Meeting of Shareholders. Hubert de Pesquidoux, a long-standing Board member, will not seek re-election.

Under the new leadership, the Board will consist of eight directors, seven of whom are independent. Van der Kooi's tenure at Microsoft included leading the digital advertising business and serving as Chairman of the Interactive Advertising Bureau in the United States. The leadership change comes as Criteo maintains a strong financial position, with InvestingPro data showing the company holds more cash than debt and maintains healthy liquidity ratios. Jay's background includes transforming Walmart Media Group's advertising technology and spearheading strategic partnerships and acquisitions.

Michael Komasinski, Criteo's CEO, expressed confidence in the expertise of van der Kooi and Jay to drive the company's strategic vision forward. Van der Kooi highlighted Criteo's potential for value creation through its AI-driven platform and acknowledged the contributions of Picard and de Pesquidoux to the company's success.

Jay shared her enthusiasm for joining Criteo's Board and contributing to its long-term success by delivering innovative commerce solutions. Picard reflected on her tenure as Chairperson, noting the company's transformation and expressing confidence in van der Kooi's ability to lead Criteo into the next phase of growth.

Criteo's press release also included a cautionary note regarding forward-looking statements and the various risks and uncertainties that could affect the company's future results. Currently trading near its 52-week low, InvestingPro analysis suggests the stock may be undervalued, with 12 additional exclusive ProTips and comprehensive financial metrics available to subscribers. For detailed insights, investors can access the full Pro Research Report, part of InvestingPro's coverage of over 1,400 US equities.

The information for this article is based on a press release statement from Criteo S.A.

In other recent news, Criteo S.A. reported robust fourth-quarter results for 2024, surpassing market expectations with a 2% increase in Contribution ex-TAC and an adjusted EBITDA that was 22% higher than analysts had anticipated. BMO Capital Markets responded by raising its price target for Criteo shares to $60, maintaining an Outperform rating. Meanwhile, Benchmark analysts reiterated a Buy rating with a $51 price target, expressing optimism about Criteo's potential growth, particularly with Microsoft advertiser volumes. DA Davidson also maintained a Buy rating and a $53 price target, despite adjusting financial estimates due to currency exchange challenges. Additionally, Criteo announced the appointment of Michael Komasinski as its new Chief Executive Officer, effective February 15, 2025, succeeding Megan Clarken. Komasinski, with over two decades of experience in AdTech, is expected to lead Criteo's AI-driven transformation. Stifel analyst Mark Kelley noted that Komasinski's appointment removes uncertainty and is seen as a positive development. Investors are keenly awaiting Criteo's upcoming fourth-quarter performance report and its guidance for 2025.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.