Doug Manoni Will Step Down as CEO of SourceMedia in 2018
SourceMedia CEO Doug Manoni announced on Friday that he’d be stepping down in 2018 and transitioning into the role of executive chairman.
Manoni joined Source in 2008 as executive vice president and managing director of the company’s Professional Services Division. During his tenure, Manoni worked to transform the B2B company by pivoting from a reliance on ad revenue to marketing services and information products.
Under his leadership, SourceMedia invested heavily in building a data and technology platform to support its monetization strategy. Just two weeks ago the company announced the launch of SourceSelect+, an account-based marketing (ABM) product that analyzes SourceMedia’s first-party intent data to identify prospects that are in-market for clients’ products.
In a letter to employees, Manoni said of the transition: “I will leave knowing we are a significantly better company today, in a much stronger position and with excellent prospects for growth. Over the past few years we have transformed SourceMedia. We introduced new products and diversified our capabilities, which radically changed the composition of our revenues.”
Read Manoni’s full letter sent to all SourceMedia employees below.
Date: January 2, 2018
Subject: Executive Announcement
To all my colleagues and friends,
It is with mixed emotions that I announce I will be stepping down from my role as Chief Executive of SourceMedia in 2018. I’ve been a part of our company for over nine years and it was a difficult decision, but I’ve decided that it’s time to move to a new challenge and in the process move closer to my family in the Boston area. I will remain at the helm over the coming months to seek out my replacement, before transitioning to the role of Executive Chairman.
I will leave knowing we are a significantly better company today, in a much stronger position and with excellent prospects for growth. Over the past few years we have transformed SourceMedia. We introduced new products and diversified our capabilities, which radically changed the composition of our revenues. We established a superior data and technology platform that strengthens every aspect of our business. The leadership team is very capable and well-prepared to continue to advance and grow the business.
It has been a genuine privilege to stand at the helm over the past several years. My career at SourceMedia has been both challenging and rewarding, and I’ve learned a tremendous amount from you. I have enjoyed so many aspects of this assignment, particularly working alongside of the executive committee, my partners at Observer Capital and all of you. I am both proud and appreciative of all that we have accomplished together.
As I begin my transition and we initiate the search for my replacement, I want to share my sincere personal thanks for your ongoing partnership. Even as I am excited about taking on something new, I will miss my daily interactions with my colleagues here. SourceMedia has a bright future and I will always be a friend to you and the company we built together.
With thanks and friendship,