Magnite promotes Sean Buckley and Katie Evans to enhance leadership and drive innovation as it enters its fifth year.
Quiver AI Summary
Magnite, the largest independent sell-side advertising platform, has announced the promotion of Sean Buckley to President, Revenue, and Katie Evans to President, Operations, to enhance its strategic focus and drive innovation. Both will report to CEO Michael Barrett, who expressed confidence in their leadership abilities. Buckley, previously Chief Revenue Officer, will continue to lead global commercial growth, while Evans, the former Chief Operating Officer, will oversee client success and operational scaling. These changes come as Magnite seeks to capitalize on emerging opportunities in live sports and programmatic advertising as it enters its fifth year.
Potential Positives
- Promotion of Sean Buckley to President of Revenue and Katie Evans to President of Operations signifies strong internal leadership development, which can enhance strategic execution and innovation.
- Both leaders have extensive experience with the company and a track record of positive impact, indicating stability and continuity in management during a pivotal growth phase.
- The management change is aligned with the company’s focus on key growth areas such as live sports and programmatic adoption in CTV, which could enhance market positioning.
Potential Negatives
- The promotions of Sean Buckley and Katie Evans could indicate a lack of established succession planning within the company, raising concerns about its long-term leadership strategy.
- The announcement focuses heavily on internal promotions, which may signal a lack of external talent acquisition to bring fresh perspectives and ideas, potentially stalling innovation.
- While the release mentions "exciting opportunities," it doesn’t address any existing challenges or setbacks, which could imply an attempt to gloss over potential operational or market struggles the company might be facing.
FAQ
Who were promoted at Magnite?
Sean Buckley has been promoted to President, Revenue, and Katie Evans to President, Operations.
What roles will Sean Buckley and Katie Evans retain?
They will continue to report to CEO, Michael Barrett, in their new positions.
What is Sean Buckley's background before Magnite?
Before joining Magnite, Sean Buckley served as Chief Revenue Officer at SpotX, among other roles.
What responsibilities will Katie Evans have in her new role?
Katie Evans will oversee client success, sales operations, technical operations, and business intelligence teams.
Where is Magnite headquartered?
Magnite is headquartered in New York City, with offices in several global locations.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MGNI Insider Trading Activity
$MGNI insiders have traded $MGNI stock on the open market 28 times in the past 6 months. Of those trades, 0 have been purchases and 28 have been sales.
Here’s a breakdown of recent trading of $MGNI stock by insiders over the last 6 months:
- MICHAEL G. BARRETT (CEO) has traded it 5 times. They made 0 purchases and 5 sales, selling 450,000 shares.
- DAVID BUONASERA (CHIEF TECHNOLOGY OFFICER) has traded it 5 times. They made 0 purchases and 5 sales, selling 32,339 shares.
- AARON SALTZ (CHIEF LEGAL OFFICER) has traded it 3 times. They made 0 purchases and 3 sales, selling 16,000 shares.
- ADAM LEE SOROCA (CHIEF PRODUCT OFFICER) has traded it 3 times. They made 0 purchases and 3 sales, selling 24,087 shares.
- ROBERT F SPILLANE sold 12,500 shares.
- BRIAN GEPHART (CHIEF ACCOUNTING OFFICER) has traded it 3 times. They made 0 purchases and 3 sales, selling 20,478 shares.
- SEAN PATRICK BUCKLEY (CHIEF REVENUE OFFICER) has traded it 5 times. They made 0 purchases and 5 sales, selling 54,458 shares.
- DAVID DAY (CHIEF FINANCIAL OFFICER) has traded it 2 times. They made 0 purchases and 2 sales, selling 40,376 shares.
- KATIE SEITZ EVANS (CHIEF OPERATING OFFICER) sold 14,541 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$MGNI Hedge Fund Activity
We have seen 150 institutional investors add shares of $MGNI stock to their portfolio, and 132 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WELLINGTON MANAGEMENT GROUP LLP added 3,659,759 shares (+125.3%) to their portfolio in Q3 2024
- DRIEHAUS CAPITAL MANAGEMENT LLC added 2,669,069 shares (+356.9%) to their portfolio in Q3 2024
- BURGUNDY ASSET MANAGEMENT LTD. removed 2,457,031 shares (-100.0%) from their portfolio in Q2 2024
- MARSHALL WACE, LLP added 2,084,747 shares (+133.7%) to their portfolio in Q3 2024
- FMR LLC removed 1,742,123 shares (-31.6%) from their portfolio in Q3 2024
- NOMURA ASSET MANAGEMENT CO LTD added 1,726,861 shares (+inf%) to their portfolio in Q3 2024
- INTRINSIC EDGE CAPITAL MANAGEMENT LLC added 1,342,403 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform, today announced the promotion of two key leaders, to further sharpen the company’s strategic focus, drive innovation, and accelerate its momentum in the market. Sean Buckley has been promoted to President, Revenue and Katie Evans has been promoted to President, Operations. Mr. Buckley and Ms. Evans will continue to report to CEO, Michael Barrett.
“Sean and Katie have had an enormously positive impact on Magnite’s development,” said Michael Barrett, CEO of Magnite. “The Board and I have great confidence in their leadership, and these promotions will enhance their impact even further. As the company enters its fifth year, we have many exciting opportunities in front of us, including live sports, the continued adoption of programmatic in CTV, and a variety of innovations in DV+. With Sean and Katie in these new roles, Magnite will be able to execute better and faster than ever.”
Sean Buckley , has served as the company’s Chief Revenue Officer since 2022. Mr. Buckley joined Magnite following its acquisition of SpotX in May 2021, and has served as the company's Chief Revenue Officer since January 2022. He will continue to lead Magnite's global commercial organization, spearheading top-line growth and fostering new client opportunities. Before Magnite, Mr. Buckley spent eight years at SpotX in various capacities, including Chief Operating Officer and Chief Revenue Officer and led the company's strategic investment in SpringServe. He was instrumental in expanding the company’s platform business, providing media owners with a solution to holistically manage their programmatic video strategies.
Katie Evans , has served as the company’s Chief Operating Officer since 2020. Ms. Evans joined Magnite following its acquisition of Telaria in April 2020, and has served as the company's Chief Operating Officer since September 2020. She will continue to oversee the company’s client success, sales operations, technical operations, and business intelligence teams. Ms. Evans is responsible for scaling the company’s global operations and works closely with the revenue, product, and engineering organizations to drive innovation and success for Magnite’s clients. Before Magnite, she was Chief Operating Officer at Telaria, where she was critical in aligning the company’s global strategy, roadmap, and processes.
Visit Magnite’s website to learn more about Sean Buckley, Katie Evans and the company’s executive team.
About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world’s leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.
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