Similarweb Appoints New CEO, Stock Dips Over 11%

Web analytics firm Similarweb announced that Michael Ackerman will assume the role of CEO on November 2, 2026, succeeding founder Orr Yarden after nearly two decades. This appointment finalizes a leadership transition initially revealed in May. Despite Similarweb emphasizing no strategic or financial changes, the company's stock fell more than 11% on Thursday following the news.

Ackerman brings extensive experience in digital advertising, data, and technology, most recently serving as Chief Business Officer at Digital Turbine. Previously, he was Chief Revenue Officer at data.ai (formerly App Annie), where he focused on go-to-market strategies for a market intelligence platform targeting Similarweb's enterprise clients. His background also includes product and strategy roles at Cardlytics, Uber, and Pinterest, as well as Kenshoo, an Israeli enterprise software company.

The board sought a leader with proven commercial growth, strategy, and operational expertise. Ackerman, who will operate from Similarweb's New York offices, is expected to maintain the company's focus on the U.S. market and large enterprise clients. Founder Orr Yarden will remain involved during a transition period to ensure continuity with clients, partners, and employees.

Yarden stated that Similarweb has successfully transitioned to the AI era and is well-positioned for its next growth phase, expressing confidence in Ackerman's ability to lead the company forward. Ackerman highlighted Similarweb's data assets and the increasing importance of understanding human behavior in the age of AI.

Similarweb is currently focused on expanding its AI-based data products and accelerating commercial activity. The company aims to be recognized as a platform for analyzing behavior, competition, and trends in real-time, leveraging its data and AI capabilities. The board believes Ackerman's experience in sales, partnerships, and product development is crucial for this phase, especially in capitalizing on the demand for AI-driven tools and increasing penetration with enterprise clients. However, the stock market's reaction suggests investor caution regarding the transition from a founder-led company to external management.