- Co-founder George John is stepping down as Rocket Fuel's (NASDAQ:FUEL) CEO after a 7-year run, while remaining chairman.
- Marty Zweben, a director and software industry vet, has been named interim CEO while the board looks for "a CEO with a proven track record of success in scaling to a multi-billion dollar global company; achieving and driving profitability; and global expertise in bringing enterprise technology to market."
- John: "I realized the time is right to identify a successor as CEO to help Rocket Fuel achieve its financial goals and guide it through its next stage of growth ... Managing Rocket Fuel to profitability is a very different challenge than the growth-focused mode of the past few years."
- The announcement comes 5 weeks after shares cratered due to a Q4 revenue miss and light Q1 guidance, and 3 months after a new CFO was named. Rocket Fuel is using today's announcement to reiterate its Q1 outlook.
- The market's initial reaction is positive: Rocket Fuel is up 1.3% AH to $10.00, after falling 1.7% in regular trading.
- Yesterday: Rocket Fuel tops $10; SA author sees a turnaround play