- Push-out Score determined
- After less than two and a half years in the position
- Praise and thanks for Laube
- Karim Temsamani taking over
- Laube said 97 words
(exechange) — Atlanta, Georgia, July 20, 2022 — Lynne Laube, chief executive of Cardlytics, leaves. As announced by Cardlytics Inc. in a news release and in a regulatory filing published on Wednesday, July 20, 2022, Lynne M. Laube leaves her post as chief executive officer at the advertising platform in banks’ digital channels, after less than two and a half years in the role, effective September 1, 2022.
Lynne Laube’s duties as CEO will be taken over by Karim Temsamani, most recently Head of Global Partnerships at Stripe.
The fact that Lynne Laube’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“Karim brings a fresh perspective”
Cardlytics did not give an explicit reason for Lynne Laube’s departure from the CEO post. Laube said: “Karim brings a fresh perspective, coupled with deep expertise that is perfectly suited to expand our partnerships and enhance our platform.”
Precise information regarding Lynne Laube’s future plans was not immediately available.
“Retire”
Cardlytics said: “Cardlytics, (NASDAQ: CDLX), an advertising platform in banks’ digital channels, today announced that its Board of Directors has named Karim Temsamani as Chief Executive Officer of the company, effective September 1, 2022. Temsamani will also be joining the Board of Directors. He will succeed co-founder and current CEO, Lynne Laube, who has announced her intention to retire.”
Cardlytics further said: “On July 15, 2022, Lynne M. Laube notified the Company of her intent to resign as the Company’s Chief Executive Officer, effective as of September 1, 2022 (the “Transition Date”), and that Ms. Laube would remain employed in an advisory capacity to support a transition of responsibilities through May 31, 2024. Ms. Laube concurrently notified the Company that she does not intend to stand for reelection at the Company’s 2023 annual meeting of stockholders (the “2023 Annual Meeting”).”
“Not the result of any disagreement”
“Ms. Laube’s separation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,” Cardlytics said.
Share price decline since July 2021
The announcement follows a decline in Cardlytics Inc.’s share price of 89% since July 2021.
In the position of CEO since 2020
Lynne Laube became CEO of the Company in 2020.
Laube will continue to serve on the Board until its 2023 annual meeting of stockholders and will remain a strategic advisor until May 2024 to ensure a smooth transition.
Lynne M. Laube has served as the Company’s Chief Executive Officer since May 2020 and as a member of the Company’s Board of Directors since the Company’s founding in 2008.
From 2008 to 2020, Laube served as the Company’s Chief Operations Officer.
From 1994 to 2008, Laube held various positions at Capital One, including as a Vice President.
Laube started her career at Bank One Corporation, where she specialized in operations analysis.
Laube holds a B.S. in Finance and Marketing from University of Cincinnati.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Lynne Laube’s move on a scale of 0 to 10.
exechange reached out to Cardlytics and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 30.2022 ($).