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(AOF) – Criteo announced that Megan Clarken, its CEO since November 2019, has informed the board of directors of her intention to retire within the next 12 months. The Nasdaq-listed adtech company specifies that in order to ensure a smooth transition, Megan Clarken will continue in her role as CEO until her successor is appointed, at which time she will also leave the board of directors. Megan Clarken has also agreed to remain at Criteo in a consulting role until the necessary transition is completed.
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Sector sheet – Internet
Online search increasingly competitive for Google
Google has dominated online search for more than two decades. It earns more than half of its revenue from advertising on its search engine. The second player, Bing, owned by Microsoft, remains far behind, with less than 9% of the global market. However, Bing enjoys a huge advantage: Microsoft’s results are not closely dependent on the performance of its search engine, but rather on its sales of software and services to businesses with its Azure branch. The group can therefore be more agile and take risks. Other serious competitors are gaining ground. Amazon’s search engine for finding products is showing a jump in its advertising revenue. Similarly, the TikTok app is increasingly used by young people to search for information.
Learn more about the Communication and Advertising sector
A healthy global market
According to Magna (Interpublic Group), the growth of the global advertising market was limited to 1% over one year during the first quarter compared to a dynamic start to the year in 2022. However, for the full year, the company forecasts much higher growth, driven by digital. This performance is the result of China’s economic rebound since the end of the “zero Covid” policy. In the first quarter, advertising spending jumped 6% in this country over one year. Elsewhere, expected performances are lower for 2023: 4.2% growth in Europe (including 2.8% in France) and 2.5% in North America (4.2% if we exclude political advertising in decline without an election). The good results of the three world leaders (the French Publicis, the British WPP and the American group Omnicom) in the first quarter reflect this market development.
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