) announced it has hired a new CEO, Michael Barrett, to replace its current CEO and founder Frank Addante. The switch takes effect this week. The advertising technology company said that Addante will continue with the company as its chairman of the board of directors. He has been in the CEO seat for a decade.

Describing its incoming leader as a “seasoned media executive,” Rubicon Project pointed out that Barrett has held a number of key positions in the internet and media spheres. Most recently he was chief revenue officer at Yahoo!, and prior to that he served as CEO of privately held AdMeld, an advertising platform company. He also worked at AOL and News Corp.

Of his new company, Barrett said that it “has a strong leadership position, a strong balance sheet, and an aggressive and innovative product strategy.”

“We are well positioned…