AcuityAds Appoints Elliot Muchnik As Chief Financial Officer

Rhea-AI Summary

AcuityAds Holdings Inc. (ATY) announced the appointment of Elliot Muchnik as Chief Financial Officer, effective immediately. Muchnik brings extensive experience from Richardson Wealth Limited, where he contributed to significant revenue growth as CFO. He succeeds Tatiana Kresling, who served as Interim CFO since September 2021. Tal Hayek, CEO, expressed confidence in Muchnik's ability to drive ongoing growth and profitability, particularly with AcuityAds' illumin platform, which is transforming programmatic advertising.

Positive

• Appointment of Elliot Muchnik as CFO, bringing extensive financial experience.
• Expected contributions to growth and profitability from Muchnik's leadership.
• Company's illumin platform is positioned to advance in the programmatic advertising sector.

Negative

• Transition from an interim CFO to a new CFO may cause short-term continuity concerns.

TORONTO and NEW YORK, Nov. 30, 2021 /PRNewswire/ - AcuityAds Holdings Inc. (TSX: AT) (Nasdaq: ATY) ("AcuityAds" or the "Company"), a digital advertising technology leader that provides targeted media solutions enabling advertisers to connect intelligently with audiences across advertising channels, today announced the appointment of Elliot Muchnik, CPA, CA as Chief Financial Officer.

Mr. Muchnik joins AcuityAds from Richardson Wealth Limited, one of Canada's largest, regulated independent wealth management firms with over $35 billion in assets under administration, where he served as Chief Financial Officer and Corporate Secretary since 2007.  During his tenure with Richardson Wealth, Mr. Muchnik helped lead the company to exponential revenue growth.  Previously, he was a Senior Vice President and Managing Director at BMO Nesbitt Burns. Mr. Muchnik holds a Bachelor of Business Administration from York University.

Mr. Muchnik will succeed Tatiana Kresling, who has served as the Company's Interim Chief Financial Officer since September 2021.

"On behalf of the entire AcuityAds team, I welcome Elliot as our CFO and look forward to his contributions," said Tal Hayek, Co-Founder and Chief Executive Officer of AcuityAds.  "His extensive financial, operational and M&A experience make him the ideal choice to help drive AcuityAds' continued growth and profitability as we continue to advance our illumin platform, which is revolutionizing the programmatic advertising industry. I would also like to recognize and thank Tatiana for her outstanding work as Interim CFO."

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 regard to Forward-looking Statements

Certain statements included herein constitute "forward-looking statements" within the meaning of applicable securities laws. 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.  Investors are cautioned not to put undue reliance on forward-looking statements.  Except as required by law, AcuityAds does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.

View original content:https://www.prnewswire.com/news-releases/acuityads-appoints-elliot-muchnik-as-chief-financial-officer-301433668.html

SOURCE AcuityAds Holdings Inc.

FAQ

Who is the new Chief Financial Officer of AcuityAds (ATY)?

Elliot Muchnik has been appointed as the new Chief Financial Officer of AcuityAds.

What was Elliot Muchnik's role before joining AcuityAds (ATY)?

Before joining AcuityAds, Elliot Muchnik served as Chief Financial Officer at Richardson Wealth Limited.

Who did Elliot Muchnik replace at AcuityAds (ATY)?

Elliot Muchnik replaces Tatiana Kresling, who served as Interim CFO since September 2021.

What is AcuityAds' illumin platform?

AcuityAds' illumin platform provides a comprehensive solution for omnichannel digital advertising and enhances programmatic advertising capabilities.

What is the expected impact of the CFO appointment on AcuityAds (ATY)?

The appointment of Elliot Muchnik is expected to drive continued growth and profitability for AcuityAds.