Digital Marketing Company Matomy Media's CEO Resigns

Liam Galin, the CEO and president of Tel Aviv and London-listed digital marketing company Matomy Media Group Ltd., has resigned effective immediately, the company announced in a stock market filing Wednesday.

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Established in 2007 and headquartered in Tel Aviv with seven additional global offices, Matomy offers customized and data-driven advertising services across mobile, video, domain, and email. The company's clients include American Express, AT&T, and HSBC.

Galin is resigning to “explore a new entrepreneurial opportunity,” he said in a statement. He was appointed CEO of Matomy in January 2018. During Galin’s tenure, Matomy’s stock dropped by 90% on the London stock market, continuing a devaluation trend the company has been experiencing since September 2016.

Chairman of the Board Sami Totah, who previously served as the chief operating officer of Nasdaq-listed billing company Amdocs Inc., will act as the company’s interim CEO, Matomy said. Ilan Tamir, Matomy’s interim chief financial officer, will be appointed as the company's chief operating officer. The company will be implementing “a reduced corporate structure,” Totah said in a statement.

Over the past two years, Matomy laid off a significant part of its employees in an effort to reorganize.

In November, the company announced it has sold its European subsidiary, mobile advertising platform operator Mobfox Media Advertising GmbH, for $7.5 million. Matomy acquired Mobfox for $17.6 million in 2014. The company’s financial situation led to an outdrawn dispute with the company’s shareholders.