Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
The Interactive Advertising Bureau’s Randall Rothenberg will join Time Inc.
The Interactive Advertising Bureau announced today that its president and CEO of nearly four years, Randall Rothenberg, will leave the group Jan. 17. Rothenberg will join Time Inc. as chief digital officer.
The IAB, a trade group that represents web sites that sell advertising, more than doubled its revenue and increased its membership by 50% during Rothenberg’s tenure, wrote IAB chairman David Moore in a letter sent to IAB members today.
A search to find Rothenberg’s replacement has already begun, Moore wrote. In the interim, executive vice president and chief operating officer Patrick Dolan will act as the group’s leader. Dolan previously held leadership positions at the Early Learning Coalition of South Florida, a nonprofit organization, and at The Locomotion Channel, a cable channel that airs in Latin America.
David Doty, the IAB’s senior vice president and chief marketing officer, also will assist with leadership responsibilities. Doty joined the IAB in 2007 from Booz Allen Hamilton, where he was the consulting firm’s director of corporate branding and creative services.
“Randall Rothenberg as president and CEO has been a superlative leader and will be missed,” Moore wrote in today’s letter. “The IAB is a strong and well-respected organization and will manage through these changes,” he added.