The Trade Desk, a prominent advertising technology company based in Ventura, California, has appointed Alex Kayyal as its new chief financial officer, effective August 21. Kayyal will succeed Laura Schenkein, who has held the position and will step down after more than 11 years with the firm.
The announcement underscores the company’s focus on driving long-term growth and scalability in the competitive digital advertising sector, where it helps brands execute targeted online campaigns.
Kayyal brings a wealth of experience to the role, having joined The Trade Desk’s board in February and previously serving as a partner at Lightspeed Venture Partners since early 2023. Before that, he spent seven years at Salesforce, rising to senior vice president and managing partner of Salesforce Ventures. In his new position, Kayyal has resigned from the board’s special committee, and his compensation includes a $600,000 base salary, a matching signing bonus, a $400,000 relocation benefit, and a $15 million restricted stock award, as detailed in a Securities and Exchange Commission filing.
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The leadership transition arrives amid market turbulence for The Trade Desk, with its stock plummeting about 37% on Friday following the second-quarter earnings release, per Nasdaq data. Investors reacted to concerns over potential tariffs and reduced ad spending by major brands, prompting Schenkein to forecast third-quarter revenue of at least $717 million, assuming economic stability. Despite these headwinds, the company posted a 19% year-over-year revenue jump to $694 million for the quarter ending June 30, alongside net income growth to $90 million from $85 million.
CEO Jeff Green remains optimistic, viewing economic uncertainties as chances to expand market share against rivals like Amazon, which reported a 23% ad revenue increase to $15.7 billion. He stressed the rapid evolution of digital advertising, driven by artificial intelligence, regulatory pressures on closed ecosystems, and demands for greater transparency. “The digital advertising landscape is evolving rapidly,” Green said. “We believe the next decade will be pivotal in determining the winners and losers in our space, and staying true to our long-term vision is more important now than ever.
