Mitchell Reichgut Exits Jun Group After 18 Years Of Reign As CEO

Mitchell Reichgut, the Founder and CEO of Jun Group, has officially stepped down from his post paving the way for former COO and President Corey Weiner to adorn the role of the new CEO.

Reichgut made his decision after his reign of 18 years at the company. The news coming after a year since the acquisition of the company by Advantage Solutions raises a few eyebrows on how much the acquisition might have influenced his decision to exit the company. 

“I think it is the right time for the company to have a leadership change,” quoted Reichgut. He further added that he had been gradually stepping back over the last a few years to allow other members in the management team to take on larger roles.

The decision to exit the company was not made all of a sudden but has put much thought to it. The startup will also see a change in other leadership roles with Mishel Alon adorning the COO role, Leslie Bargmann as Vice President of Client Services, and Jeremy Ellison as Vice President of Technology.

Founded in 2005, the startup came into limelight when it raised $28 million in its first venture round in July 2015. The mobile advertising company primarily focuses on video ads and branded content.

The funding round witnessed significant contributions from Halyard Capital and Bridge Bank, which gained a seat for Robert Noal Jr., Bruce Eatroff, and Brendyn Grimaldi on the company’s board.

Prior to 2 years to the investment, the startup had introduced ‘Branded Content’ that accounts for half of the company’s business.

Headquartered in New York, Jun Group has set up offices in Chicago, Los Angeles, and Orange Country. The new CEO has stated that he would further focus on the company approach to advertisement to build custom audio segments and show video ads and branded content to interested viewers.

Reichgut revealed his after retirement plans, which included artwork, writing, and community service for the most part.