Outbrain Announces David Kostman as Sole CEO with Yaron Galai Remaining as Chairman and Advisor
29 February 2024 - 10:28PM
Outbrain Inc. (Nasdaq: OB), a leading technology platform that
drives business results by engaging people across the Open
Internet, announced today that David Kostman will assume the role
of sole CEO of Outbrain. The company’s co-Founder and co-CEO, Yaron
Galai, who has shared management responsibility with Kostman since
2017, will step down from his role as co-CEO, effective April 1,
2024. Galai will remain the Chairman of the Board and will serve in
an advisor role until year-end.
“After over 17 years as Outbrain’s CEO, with the
last six years partnering closely with David, the Board and I have
agreed that it’s the right time for me to step down from the co-CEO
position,” said Galai. “I am very proud of the accomplishments of
the Outbrain team, and am excited about the company’s strategic
direction, including the growth of new offerings such as Onyx and
Keystone. I am highly confident in the incredible team we have in
place under the leadership of David and the rest of the management
team. I look forward to staying on as Chairman of the Board, and as
advisor to the company until the end of 2024.”
“I want to thank Yaron for founding and building
this amazing company and for the great partnership over the last
few years,” said Kostman. “I am excited about the strategic
direction we are taking and our execution focus that will support
our return to growth and higher profitability. I look forward to
continuing to work with the outstanding team of Outbrainers who
drive innovation in our industry every day.”
“On behalf of the Board, I want to thank Yaron
for founding Outbrain and for the exciting journey to becoming a
billion-dollar company. Yaron has been an industry pioneer in our
space, developing many industry-firsts, while supporting some of
the world’s most important publishers,” said Shlomo Dovrat,
independent Lead Director of the Outbrain Board. “We appreciate
that the co-CEO structure provides us with a smooth transition to
the leadership of David, who is highly respected by all parts of
the company, as well as our partners in the market and our
shareholders.”
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the federal securities laws, which
statements involve substantial risks and uncertainties.
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future events and trends that we believe may affect our business,
financial condition and results of operations. The outcome of the
events described in these forward-looking statements is subject to
risks, uncertainties and other factors, including but not limited
to the risks described in the section entitled “Risk Factors” and
elsewhere in the Annual Report on Form 10-K filed for the year
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that the results, events and circumstances reflected in the
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About Outbrain
Outbrain (Nasdaq: OB) is a leading technology
platform that drives business results by engaging people across the
Open Internet. Outbrain predicts moments of engagement to drive
measurable outcomes for advertisers and publishers using AI and
machine learning across more than 8,000 online properties globally.
Founded in 2006, Outbrain is headquartered in New York with offices
in Israel and across the United States, Europe, Asia-Pacific, and
South America.
Media Contact
press@outbrain.com
Investor Relations Contact
IR@outbrain.com
(332) 205-8999
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