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NEWS6 November 2019

Comscore names new CEO

Financials News North America People

US – Measurement firm Comscore has appointed board member Bill Livek as chief executive officer and executive vice-chairman, effective immediately.

Livek (pictured) replaces Dale Fuller, who was appointed as interim chief executive of the company following the sudden departure of CEO Bryan Wiener and president Sarah Hofstetter earlier in the year.

Comscore’s revenue for the third quarter was $94.3m compared to $102.9m in the third quarter of 2018, while its net loss was $10.6m compared to $24.6m in the same period last year.

In September, the company settled a $5m fraud charge with the Securities and Exchange Commission (SEC) over an investigation into financial accounting and disclosure practices, although Comscore neither admitted nor denied the SEC allegations.

Revenue from the Ratings and Planning business decreased to $65.3m in the third quarter of 2019, compared to $70.5m in the same quarter in 2018. Analytics and Optimisation revenue also declined to $18.3m, compared to $22.2m in the third quarter of last year.

Movies Reporting and Analytics revenue, meanwhile, was $10.7m in Q3, up from $10.2m in the same period in 2018.

Fuller, who remains with the company as a member of the board of directors, said Comscore had made “substantial progress” in refocusing its product portfolio during the third quarter.

Fuller added: “During my tenure as interim chief executive officer, we significantly reduced our core operating costs, right-sized our organisational structure, and executed on a strategy that we believe will allow us to achieve break-even operating cash flow by the end of the year.”

Prior to joining Comscore’s board in 2016, Livek was vice-chairman and chief executive at Rentrak, and has previously been co-president at Experian Research Services, co-owner of Simmons Market Research and a co-founder of Transactional Data Solutions.

@RESEARCH LIVE

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