April 13, 2017 / 11:46 AM / in 4 months

Israeli online ad firm Matomy's CFO to replace Druker as CEO

TEL AVIV, April 13 (Reuters) - Israeli online advertising firm Matomy Media Group said on Thursday its co-founder, Ofer Druker, is stepping down as chief executive officer and will be replaced by Chief Financial Officer, Sagi Niri, effective immediately.

"Ofer Druker has decided to step down from his role as CEO to pursue new challenges," Matomy said in a statement.

Niri, who is also Matomy's chief operating officer, has worked closely with Druker as a key member of Matomy's management team since joining the firm in 2008.

Druker built Matomy from its inception to a company with revenue of $277 million in 2016. He led Matomy's 2014 initial public offering on the London Stock Exchange and dual-listing on the Tel Aviv Stock Exchange.

Druker will also step down as a director, effective May 30. He has agreed to provide strategic and business development advice for at least one year.

Prior to joining Matomy, Niri was chief controller at McCann Erickson Israel Group. (Reporting by Tova Cohen)

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