Denmark-based ad-tech outfit Adform has named Troels Philip Jensen its new CEO.
Jensen replaces Adform’s co-founder Gustav Mellentin, who will continue to have an active role shaping the company’s strategy, according to a statement.
“Gustav Mellentin and his amazing team have achieved an impressive amount over the last 18 years,” Jensen said in a statement. “There are not many independent software companies on the market that have Adform’s scale, global presence and also have great potential for future growth. That’s why I quickly and proudly accepted this job.”
Part of Jensen’s remit as CEO is to strengthen the company’s international position. He joins a year after Adform raised an undisclosed sum to accelerate global expansion, which included hiring in North America.
Jensen joins Adform in a challenging time for independent ad-tech firms. Former rival Sizmek, which operated a similar tech stack, filed for bankruptcy last year. Now, other ad-tech companies have started to seek financial relief or change revenue guarantees during the coronavirus pandemic that’s put additional strain on balance sheets.
Jensen spent the last seven years as COO of Swedish software company Itiviti AB.
“Now is the right time to pass the baton and change the leader of Adform,” Mellentin said in a statement. “I’m confident Troels Philip Jensen has the right skills to ensure Adform’s continued growth and success, and I personally look forward to being part of the journey ahead as a member of our amazing leadership team.”
Adform shelved plans to go public in 2018, citing market volatility that negatively affected tech prices. It pitches its integrated tech stack–which includes an ad server, data management platform and demand-side platform–as an independent alternative to Google.
Torben Munch, chairman of the board of Adform, said in a statement that the company is looking to be a global leader in the integrated advertising platform category.
“We are certain that Troels Philip Jensen is the right man to guide Adform with his strong global leadership skills, his impressive track record, and his ability to execute international growth strategies focusing on sales and customer satisfaction,” said Munch.