Mark Zagorski is resigning as president and COO of Rubicon Project at the end of June, just three months after the company acquired Telaria, where he had served as CEO for nearly three years.
Michael Barrett, CEO of Rubicon, will reassume the role of president. He held both positions prior to April’s all-stock deal for Telaria.
Zagorski is leaving to “pursue a new opportunity,” according to a company statement.
“We thank Mark for the passion and commitment in developing the CTV business that is now a key strategic pillar for our company,” Barrett said in the statement. “Thanks to Mark’s leadership, we have a superb CTV operational team that will ensure we continue our leading position in the CTV market.”
He also pointed to “strong industry experience at the board level” continuing at Rubicon, highlight FreeWheel co-founder Doug Knopper and chairman Paul Caine, formerly the interim CEO and executive chairman of Telaria
Rubicon described the deal with Telaria as a merger at the end of last year. However, Rubicon stockholders own 52.9% of the newly combined company, which still bears Rubicon’s name.
Zagorski’s departure comes a month after Rubicon laid off about 8% of its staff, which was part of a broader cost-cutting strategy related to the acquisition and the financial impact of the coronavirus pandemic.
Rubicon is now the largest independent supply-side platform in the marketplace. It sought Telaria for its technology and business relationships in connected TV, a medium eMarketer expects to reach $8.9 billion in ad spend by the end of 2020 and grow to over $14 billion in spend by 2023.