Performance marketing network Tradedoubler has announced that its CEO, Rob Wilson, is leaving.
Chairman of the board of Tradedoubler, Peter Larsson, said the board of directors is confident that the company is well placed for the future and in Wilson's place, Matthias Stadelmeyer has been appointed while work of recruiting a new president and CEO has been initiated.
London-based Wilson successfully established Tradedoubler’s support and service centre in Telford, and simultaneously reduced the company's cost structure significantly.
Wilson, who has been at the helm as president and CEO since August 2012, was also a major driving force behind the company's innovative business incubator scheme, The Zoo Project.
“The recent restructure of the company, which means significant savings, the corporate bond issue of 250 million in December and the previously announced additions to the management team make the board of directors confident that the company is well positioned for the future," Larsson said.
Larsson said while the revenue trend has been 'disappointing' for an extended period of time, the company is firmly focused on now increasing its focus on achieving growth. He said the board felt that this also required a change in leadership, which is why it has initiated the search for a replacement for Wilson.
Acting CEO Stadelmeyer has worked at Tradedoubler since 2007 and has held various senior positions in the company.
He has managed the company´s technology division from London and has most recently been regional director for Germany, Austria and Switzerland and vice president operations.
While Tradedoubler will release the complete report for the first quarter 2014 on May 6, its preliminary earnings figures show net sales at 445 million SEK for Q1 this year, compared to 528 million SEK in Q1 2013.
Gross profit was also down from 119 million SEK in Q1 2013, to 101 million SEK in Q1 2014.
The prelim results also show that EBITDA is 12 million SEK for Q1 2014, compared to 19 million SEK in Q1 2013.
Keep an eye on PI for further news on this.
For previous news on Tradedoubler see below: