NEW YORK Greg Stuart, the head of the Interactive Advertising Bureau, is leaving the organization at the end of 2006 to pursue other opportunities, IAB officials said.
A replacement has yet to be named for Stuart, who has been with the organization since 2001.
The IAB plans an immediate search for a new CEO, combining the resources of its board member recruiting committee and executive search firm Spencer Stuart.
Stuart was travelling and not available for comment on his future plans, the IAB said. His first book, What Sticks, which he co-authored with Rex Briggs, is scheduled for release in the fall.
Stuart spent several years at advertising agencies, including a stint as general manager of Wunderman's interactive division. Prior to joining the IAB, he was CEO and president of DeltaClick, a San Francisco ad technology company. He also held senior posts at firms such as Flycast Communications and Cars.com.
During his IAB tenure, the interactive ad market grew from about $6 billion to an estimated $16 billion today.
IAB officials were confident that the organization is well positioned to navigate a change in leadership while continuing to pursue its larger initiatives. "This will not hold things up," said Sheryl Draizen, IAB's senior vice president and general manager. "It will largely be business as usual."
Draizen added that while it is hard to say when a new CEO will be installed, it is possible that candidates will emerge both from within and outside the organization.
"It really was his choice to leave," said Draizen. "The IAB acknowledges everything that Greg has accomplished during his tenure."