The Next Ad Tech IPO? Turn Hires Its First CFO
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Fast-growing ad tech firm Turn has hired Adobe’s Joe Nemeth as its first chief financial officer.
Mr. Nemeth worked at Adobe for 13 years and was most recently the company’s VP-corporate strategy and finance, where he had a hand both in acquisitions and helping to create and oversee the company’s financial processes.
Mr. Nemeth brings a wealth of M&A and finance experience to Turn, which could signal a few things. For one, it may mean Turn is ready to go on an acquisition spree and wanted someone on board who has had a hand in many, including Adobe’s giant $1.8 billion purchase of Omniture. Yet the more likely subtext is that the company is hiring a finance pro to get the necessary processes in place ahead of a not-so-distant IPO perhaps in the next 12 to 18 months.
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