Matta Departs comScore Board

Former CEO and 16-year company veteran Serge Matta has resigned from the comScore board, effective immediately.

In an SEC filing reported on seekingalpha.com, thanking Matta for his contribution, comScore company said the departure 'did not occur in connection with any disagreement with the Company known to an executive officer of the Company on any matter relating to the Company's operations, policies or practices'.

Matta assumed the role of President of Global Sales and Marketing at location intelligence firm xAd Inc., a month ago. He was replaced as CEO in August by co-founder Gian Fulgoni, and the following month it was announced he would be leaving the business.

comScore has had a troubled year, with shares plunging 35 percent one day in March on the revelation of an audit looking into accounting irregularities. The company then missed various accounting deadlines and was scheduled for delisting from the Nasdaq, lost its co-founder and Executive Chair Magid Abraham (who left the board a fortnight ago); reported in the audit that its last three years' financial statements 'should no longer be relied upon', due to the erroneous inclusion of non-monetary transactions which inflated revenue and other figures; and saw Chair Joan Lewis become the latest to vacate a leading role, earlier this month.

A majority of analysts are still predicting a rise in share price, indicating perhaps a confidence that the worst is past for the measurement giant.

Web site: www.comscore.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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