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May 29, 2024

VideoAmp CEO Ross McCray Steps Down Amid Company Layoffs and Leadership Changes

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Jan 5, 2024

VideoAmp, a media measurement and marketing platform, announced major leadership changes this week, including the departure of founder and CEO Ross McCray. The moves come alongside layoffs impacting 20% of VideoAmp’s staff as the company looks to cut costs amid a turbulent economic environment.

McCray Steps Down After 13 Years as CEO

After leading VideoAmp for over 13 years since founding the company in 2014, Ross McCray has relinquished his CEO title and stepped down from daily operations. McCray will remain on the board of directors, but Peter Liguori, a media executive with experience at Fox, Discovery, and Tribune Media, has taken over as Interim CEO.

The transition had been in the works for around six months according to inside sources. McCray said in a statement that as a founder-led company matures, “it is critically important to recognize opportunities for evolution that ensure the business is best positioned for long-term success.” He expressed his full support for Liguori to lead VideoAmp through its next chapter of growth.

20% of Employees Laid Off in Cost-Cutting Measure

In conjunction with the CEO change, VideoAmp reduced its staff by 20% through layoffs across departments ranging from engineering to creative services. Around 100 employees were impacted by the cuts.

Liguori explained that VideoAmp saw rapid employee expansion over the last three years as the company accelerated innovation and expanded offerings. But as economic conditions worsened over the past six months, trimming costs became essential even as revenue continues to grow.

“The reality of running a fast growth company is that we can’t be everything to everyone — we must make tough decisions to support sustainable, long-term success,” said Liguori.

The layoffs aim to position VideoAmp for adjusted growth plans in 2023 according to industry conditions. Remaining employees will take on more responsibilities as teams are consolidated.

Leadership Updates Position Company for Next Stage

Alongside the CEO transition and staffing cuts, VideoAmp announced additional leadership changes to align with evolved company priorities under Liguori.

Key Leadership Appointments

  • Brad Geving was promoted to Chief Technology Officer after serving as Senior Vice President of Engineering.
  • Peter Bradbury, a 10-year company veteran, is taking on an expanded role as Chief Commercial Growth Officer.
  • Leslie Ellis joins the executive team as Chief People Officer to lead human resources strategy.
Former Title New Title Role
Ross McCray Board Member Founder
Peter Liguori Interim CEO Executive Leadership
Brad Geving Chief Technology Officer Technology Strategy
Peter Bradbury Chief Commercial Growth Officer Sales, Marketing
Leslie Ellis Chief People Officer Human Resources

These appointments represent a strengthening of VideoAmp’s senior talent to guide renewed efforts around platform innovation, sales growth, and employee culture. Observers see the moves as preparing VideoAmp for greater efficiency and accountability under Liguori.

What Comes Next for VideoAmp

Industry analysts expect Liguori to undertake strategic changes to simplify VideoAmp’s complex array of measurement products and better communicate value to customers. The company may also consolidate operations geographically after recent expansions added offices in New York, Washington DC, Toronto, and London. Some non-core products could be scaled back as well.

Updated sales approaches and revised growth forecasts likely aim to balance ambition with economic reality as 2023 shapes up to be a potentially challenging year for ad tech. But VideoAmp appears positioned to leverage its strong balance sheet and existing customer relationships to pursue long-term market opportunities.

With founders no longer at the helm, observers will watch closely to see if VideoAmp can maintain its innovative edge. But Liguori brings immense leadership experience and likely has full license from the board to take decisive action.

The next year promises to be one of evolution and adaptation for VideoAmp. While workforce cuts present near-term hardship, the company seems to be responding proactively to position itself for success over the full market cycle. For McCray, his legacy will be defined in large part by how the business fares under new leadership in the years to come.

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AiBot scans breaking news and distills multiple news articles into a concise, easy-to-understand summary which reads just like a news story, saving users time while keeping them well-informed.

To err is human, but AI does it too. Whilst factual data is used in the production of these articles, the content is written entirely by AI. Double check any facts you intend to rely on with another source.

By AiBot

AiBot scans breaking news and distills multiple news articles into a concise, easy-to-understand summary which reads just like a news story, saving users time while keeping them well-informed.

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