AcuityAds Announces Board and Management Changes
AcuityAds Holdings has announced significant management changes, including the retirement of CFO Jonathan Pollack later this year. Pollack expressed pride in the company's financial achievements during his tenure. The search for his successor is underway, and he will assist in the transition. Additionally, Lisa Donohue has been nominated to join the board, bringing extensive experience from her roles at Publicis Groupe. These changes align with AcuityAds' strategy to enhance governance and pursue a NASDAQ listing, reflecting the company's continuing growth and commitment to capital markets.
- Jonathan Pollack's contributions have placed AcuityAds on its strongest financial footing.
- The company has successfully raised capital from public markets on two occasions during Pollack's tenure.
- AcuityAds is now part of the S&P/TSX Composite Index, reinforcing its market position.
- Lisa Donohue's nomination adds valuable consumer marketing expertise to the board.
- Transitioning leadership may create temporary disruption within the company as a new CFO is identified.
TORONTO and NEW YORK, June 2, 2021 /PRNewswire/ - AcuityAds Holdings Inc. (TSX: AT) (OTCQX: ACUIF) ("AcuityAds" or "Company"), the technology leader in consumer journey based advertising automation, today announced upcoming board and management changes.
Jonathan Pollack, its Chief Financial Officer, will retire from the Company later this calendar year once his successor has been identified. Mr. Pollack stated: "I am very pleased with all of the successes that we have enjoyed during my tenure at AcuityAds, and I am especially proud of my contributions in placing AcuityAds on its strongest financial footing in its history. I am confident that AcuityAds remains poised for even greater accomplishments over the next number of years as it continues to build on the momentum that has been created."
Tal Hayek, the Chief Executive Officer of the Company, stated: "Jonathan has played a meaningful role over the last three years in setting our capital markets strategy and improving our financial reporting functions so that these important aspects of our business have strengthened alongside our commercial successes. During his tenure we have strengthened our partnership with our lender, raised capital from the public markets on two separate occasions, graduated our stock listing to the Toronto Stock Exchange and we are now included in the S&P/TSX Composite Index."
The Company has activated a search for his successor, and the timing of the transition from Mr. Pollack to that successor will be guided by the results of that search process. Following the appointment of his successor, Mr. Pollack has agreed to remain in an advisory role with the Company to assist the incoming Chief Financial Officer and to help ensure a smooth transition.
In addition, the Company announced that Lisa Donohue has been nominated to become a director of the Company at its upcoming annual meeting of shareholders. Most recently, Ms. Donohue served as CEO of Publicis Spine, a data and technology start-up within Publicis Groupe, and Chief Integration Officer of Publicis Groupe. Prior to that role, she was the Global Brand President at Starcom Worldwide, also a division of Publicis Groupe, and prior to that, she served as CEO of Starcom USA, a division of Starcom Worldwide.
Ms. Donohue will replace Joe Ontman on the Board of Directors, who will continue in his day-to-day role as Head of Business Development of the Company.
Sheldon Pollack, the Chair of the Board of Directors of the Company, noted: "We are very excited to have attracted a director nominee as accomplished as Lisa, and are looking forward to her appointment at next month's annual shareholder meeting. Ms. Donohue is an experienced public board director and chief executive officer with extensive expertise in global consumer marketing. She will bring a unique and valuable perspective to our strategic planning."
"I want to personally thank Joe Ontman for his leadership on the board and I know that we will continue to have access to his important viewpoints and judgement through his continuing role at the Company," continued Mr. Sheldon Pollack. "Joe is one of our company's founders and his contributions to our corporate success and culture remain critical. Given our intentions to pursue a listing on NASDAQ in the coming weeks, the board of directors and Joe jointly decided that this annual meeting was an appropriate time to further reduce the number of non-independent directors on our board in order for its composition to be consistent with best corporate governance practices in both Canada and the United States."
About AcuityAds:
AcuityAds is a leading technology company that provides marketers a one-stop solution for omnichannel digital advertising with best-of-category return on advertising spend. Its journey automation technology, illumin™, offers planning, buying, and real-time intelligence from one platform. With proprietary Artificial Intelligence, illumin™ brings unique programmatic capabilities to close the gap between advertising planning and execution. The company brings an integrated ecosystem of privacy-protected data, inventory, brand safety, and fraud prevention partners, offering trusted solutions with proven, above-benchmark outcomes for the most demanding marketers. AcuityAds is headquartered in Toronto with offices throughout Canada, the U.S., Europe, and Latin America. For more information, visit AcuityAds.com.
Disclaimer in regards to Forward-looking statements
Certain statements included herein constitute "forward-looking statements" within the meaning of applicable securities laws. These statements may relate to the Company's future financial outlook, financial position, anticipated events, results, success of its work from home policies, the Company's strategy with respect to the illumin platform, results of the Company's application to list its shares on NASDAQ or the effect of the COVID-19 pandemic on the Company's business and operations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Also, given the evolving circumstances surrounding the COVID-19 pandemic, it is difficult to predict how significant the adverse impact of the pandemic will be on the global and domestic economy, the business, operations and financial position of the Company's clients and the business, operations and financial position of the Company. Investors are cautioned not to put undue reliance on forward-looking statements. Many factors could cause the Company's actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the "Risk Factors" section of the Company's Annual Information Form dated March 1, 2021 for the fiscal year ended December 31, 2020 (the "AIF") and the Company's Management Discussion and Analysis for the three months ended March 31, 2021 dated May 11, 2021 (the "MD&A"). A copy of the AIF, MD&A and the Company's other publicly filed documents can be accessed under the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com. In addition, the effects of COVID-19, including the duration, spread and severity of the pandemic, create additional risks and uncertainties for the Company. In particular, the impact of the virus and government authorities' and public health officials' responses thereto may affect: the Company's actual results, performance, prospects or opportunities; domestic and global credit and capital markets and its ability to access capital on favourable terms, or at all; and the health and safety of its employees. The Company cautions that the list of risk factors and uncertainties described in the AIF and the MD&A are not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. Except as required by law, AcuityAds does not intend, and undertakes no obligation, to update any forward-looking statement to reflect, in particular, new information or future events.
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SOURCE AcuityAds Holdings Inc.
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