Yet another executive shuffle is underway at Twitter.
Fourteen months after Twitter acquired MoPub, its founder and CEO, Jim Payne, is leaving day-to-day operations for the mobile-ad exchange. Mr. Payne will serve as an ad-tech adviser to Twitter's CFO, Anthony Noto.
A Twitter spokesman confirmed the changes. Mr. Payne's transition was planned, and he will continue working daily at Twitter, strategically advising Mr. Noto on the ad-tech industry, the spokesman said. (Yesterday, Mr. Noto publicly signaled his interest in buying a company through a mistaken tweet.)
Janae McDonough, a MoPub VP and former mobile platform executive at Google, will step into Mr. Payne's role as strategic director of Exchange, Twitter's mobile-ad business.
A memo attributed to Mr. Payne announced the move to MoPub clients. "We've only scratched the surface of what is possible as part of Twitter, and we are looking forward to making those integrations even more of a reality in the year ahead," Mr. Payne wrote in the memo. "I will be transitioning into an expanded role at Twitter on the corporate development team that I'm excited about: focusing on strategic M+A in the ad tech space." MoPub now has more than 140 ad-buying platforms bidding on inventory through its exchange, he said.
Twitter moved to buy MoPub in September 2013 for $300 million and finalized the acquisition the following month. "It's important to underscore that our commitment to you, the publisher, will not change," Mr. Payne wrote at the time.
The company is widely respected in the ad-tech industry and considered a strong asset for Twitter. Earlier this month, Twitter executives said MoPub now serves 170 billion ad impressions a month. In May, Twitter signed a $230 million deal with Omnicom Media, tying the holding company's programmatic business to MoPub.