Ziff Davis names Lori Tansley as new Chief Accounting Officer

NEW YORK - Ziff Davis, Inc. (NASDAQ: ZD), a digital media and internet company, has announced the appointment of Lori Tansley as the new Chief Accounting Officer. Tansley is set to take on her new role at the company starting December 2, 2024.

Lori Tansley brings a wealth of experience in finance and accounting to Ziff Davis. Her career spans over two decades, including significant roles at Ankura Consulting Group, LLC, where she served as Senior Vice President and Chief Accounting Officer. At Ankura, she led a global team overseeing various financial functions, including business controllership and statutory reporting.

Before her tenure at Ankura, Tansley held the position of Managing Director - Digital Finance Transformation Leader at Moody's (NYSE:MCO) Corporation and served as Senior Vice President and Chief Accounting Officer at Affinion Group, Inc. Her extensive background also includes a variety of finance and accounting roles at General Electric Company (NYSE:GE), culminating in the role of Managing Director - Global Technical Advisor, GE Capital Audit.

Tansley's academic credentials include a Bachelor's of Business Administration from the Lubin School of Business at Pace University, and she is a Certified Public Accountant in New York.

Bret Richter, Chief Financial Officer of Ziff Davis, praised Tansley's appointment, highlighting her deep finance, mergers and acquisitions, and accounting expertise. Richter expressed confidence that Tansley's extensive experience would be a valuable asset in driving the company towards its long-term objectives.

Ziff Davis is known for its portfolio of brands across various sectors, including technology, shopping, gaming, entertainment, and cybersecurity. Tansley's leadership is expected to strengthen the company's global accounting and public reporting functions as part of its executive team.

This strategic executive appointment is based on a press release statement from Ziff Davis, Inc.

In other recent news, Ziff Davis reported a 3.7% increase in total revenue to $353.6 million during Q3, with an adjusted EBITDA growth of 9.6% to $124.7 million. The company's management also reaffirmed its fiscal year 2024 guidance, expecting high single-digit revenue and adjusted EBITDA growth, and double-digit adjusted EPS growth in Q4.

Ziff Davis announced its participation in the RBC Capital Markets Global Technology, Internet, Media, and Telecommunications Conference, where it plans to discuss its business strategies and performance. This development underscores the company's active role in the technology and telecommunications industry.

In terms of mergers and acquisitions, Ziff Davis has successfully integrated CNET, which has strengthened its digital media segment. The company has also launched AI-driven products and is exploring AI licensing deals, viewing premium publisher content as essential for training AI models.

Despite challenges in the cyber and martech sectors, and a decline in advertising and performance marketing revenue in the first half of 2024, Ziff Davis remains focused on growth, product improvement, and strategic acquisitions. These recent developments indicate the company's continued commitment to its strategic direction and fiscal health.

InvestingPro Insights

As Ziff Davis welcomes Lori Tansley as its new Chief Accounting Officer, investors may find additional context in the company's financial metrics and market performance. According to InvestingPro data, Ziff Davis boasts a market capitalization of $2.47 billion, reflecting its significant presence in the digital media and internet sector.

The company's financial health appears robust, with an impressive gross profit margin of 85.38% for the last twelve months as of Q3 2024. This high margin suggests that Ziff Davis maintains strong pricing power and cost efficiency in its operations, which could be further optimized under Tansley's financial leadership.

InvestingPro Tips highlight that management has been aggressively buying back shares, indicating confidence in the company's future prospects. This strategy aligns with the company's focus on long-term objectives, as mentioned by CFO Bret Richter.

Additionally, Ziff Davis has shown strong recent performance, with a 24.94% price return over the last month. This positive momentum could be attributed to investor optimism about the company's strategic moves, including the appointment of experienced executives like Tansley.

It's worth noting that while Ziff Davis operates with a moderate level of debt, its liquid assets exceed short-term obligations, suggesting a solid financial foundation for future growth initiatives.

For investors seeking a more comprehensive analysis, InvestingPro offers 15 additional tips for Ziff Davis, providing a deeper understanding of the company's financial position and market outlook.

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