- Push-out Score determined
- After almost nine years in the position
- Ryan Steelberg taking over
- Chad Steelberg will remain as Chairman at Veritone
- Chad Steelberg said 108 words
(exechange) — Denver, Colorado, November 8, 2022 — Chad Steelberg, chief executive of Veritone, leaves his position. As announced by Veritone Inc. in a news release and in a regulatory filing published on Tuesday, November 8, 2022, Chad Steelberg leaves his post as chief executive officer at the specialist in enterprise artificial intelligence (AI) software, after almost nine years in the role, effective January 1, 2023.
Chad Steelberg’s duties as CEO will be taken over by Ryan Steelberg, currently President at Veritone Inc.
No reason given
In the announcement, Veritone did not explicitly explain the reason for the move.
Chad Steelberg will remain as Chairman at Veritone
“Chad Steelberg, who has served as Chief Executive Officer and Chairman of the Board since Veritone’s inception in June 2014, has indicated he will resign as Chief Executive Officer on January 1, 2023 but will remain Chairman of the Board,” Veritone said.
“Resign”
Veritone said: “Veritone announced new roles for co-founders Chad Steelberg and Ryan Steelberg, effective January 1, 2023. Chad Steelberg, who has served as Chief Executive Officer and Chairman of the Board since Veritone’s inception in June 2014, has indicated he will resign as Chief Executive Officer on January 1, 2023.”
Veritone further said: “On November 4, 2022, Chad Steelberg informed the Company of his intention to resign as Chief Executive Officer of the Company, effective as of January 1, 2023.”
Share price decline since January 2021
The announcement follows a decline in Veritone Inc.’s share price of 76% since January 2021.
In the position of CEO since 2014
Chad Steelberg became CEO of the Company in 2014.
Chad Steelberg is a co-founder of the Company and has served as the Company’s Chief Executive Officer and Chairman of the Board since the Company’s inception in June 2014.
From January 2007 to December 2012, he served as a board member of Brand Affinity Technologies, Inc., a technology and marketing services company.
Prior to that, Steelberg served as the general manager of the Audio Division of Google Inc. from February 2006 to February 2007.
From February 2002 to February 2007, he was the co-founder and Chief Executive Officer of dMarc Broadcasting, an advertising company that was acquired by Google Inc. in 2006.
Prior to that, Steelberg was the co-founder and Chief Executive Officer of Adforce, a publicly traded centralized independent ad-serving company that was acquired by CMGi in 1999.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Chad Steelberg’s move on a scale of 0 to 10.
exechange reached out to Veritone and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 46.2022 ($).