Dave Moore (SAI 100 #16) is stepping down as CEO of 24/7 Real Media and will be replaced by Jonathan Hsu, 36, who had been chief operating officer of the ad network for the past two years. Moore will remain chairman of the company, which was acquired by WPP Group for $649 million in May 2007.
Moore founded the company 12 years ago and ran it through its acquisition of Real Media, and its brief stint as a standalone public company. Since WPP’s acquisition of the firm, its media buying units have standardized on 24/7’s Decide DNA platform, and its agencies use the company’s technology to access Yahoo’s Right Media ad exchange.
Moore said he would remain active at the company, handling recruiting, business development, and with WPP’s wider digital initiatives through WPP Digital.
From his statement, it sounds like Moore had pretty much had it:
I have spent more than a decade at the helm of 24/7 Real Media and have experienced the best and worst of the responsibility that comes with the CEO position. It is not an easy job, however. Jonathan Hsu is an exceptional leader and brilliant strategist. He has consistently demonstrated an ability to identify new opportunities to grow the business. He will make an outstanding chief executive and I look forward to continuing our work together in these new roles. I love this business and look forward to continuing to build 24/7, WPP and our exciting industry.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.