AppLovin's CEO is no longer board chair and two top execs are stepping down. The publicly traded adtech company is undergoing a power shift with a slate of changes to its c-suite and board of directors. 5 hours ago If you want to shape media strategy - not just optimize it - upgrade your expertise. The ADWEEK MiniMBA in Marketing equips you to lead with confidence and credibility. Register now. Mobile adtech giant AppLovin is shaking up its upper ranks with a new chair of the board and the impending departures of both its chief technologist and its chief legal officer. Adam Foroughi, AppLovin's CEO and cofounder, stepped down as chairman of the board last week, according to an SEC filing made Tuesday. He was replaced by Wynn Resorts CEO Craig Billings, who has sat on the board since 2020. Foroughi will remain CEO and retain a seat as board member. In a press release, Foroughi called Billings "thoughtful and engaged," and added that the switch will allow him to "fully focus on strategic execution." Kendra Barnett is Adweek's senior tech reporter. Recommended videos

AppLovin announces succession plans for key leadership roles and new independent Chairperson. PALO ALTO, Calif.-(BUSINESS WIRE)-AppLovin Corporation (NASDAQ: APP) ("AppLovin" or the "Company"), the leading marketing platform, today announced succession plans relating to its executive management team and the appointment of Craig Billings as independent Chairperson of its Board of Directors (the "Board"). "Craig has been a thoughtful and engaged leader since joining the Board," Mr. Foroughi said. "I was pleased to recommend he become the Chairperson, allowing me to fully focus on strategic execution." Share The Company announced the following management succession plans: * Chief Technology Officer: Basil Shikin, AppLovin's current Chief Technology Officer, will transition into the role of Distinguished Engineer, effective July 1, 2026, at which time Giovanni ("Gio") Ge, the Company's current Chief Product and Engineering Officer, will become AppLovin's next Chief Technology Officer. * Chief Legal Officer: Victoria ("Tory") Valenzuela, AppLovin's current Chief Administrative & Legal Officer, will retire, effective August 1, 2026, and will be nominated for election as a director at the Company's 2026 Annual Meeting of Stockholders. Upon Ms. Valenzuela's retirement, Corina Cacovean, the Company's current Deputy General Counsel, Privacy, Litigation & Regulatory, will become AppLovin's next Chief Legal Officer. "Basil and Tory have been instrumental in AppLovin's growth. Basil led development of much of our technology stack over the nearly 10 years he was CTO. In his new role, we'll continue to benefit from his perspective as a builder and an innovator. Tory has been a valued business partner, helping guide the Company through its IPO and a period of rapid expansion, and we look forward to her presence and expertise in the boardroom," said Adam Foroughi, Chief Executive Officer and Co-Founder. "We're pleased to elevate their successors from within - Gio and Corina bring deep institutional knowledge and leadership, underscoring our commitment to talent development and thoughtful succession planning." The Company also announced the appointment of Craig Billings as independent Chairperson of the Board, building on his tenure as Lead Independent Director since the Company's IPO. Adam Foroughi will continue to serve as Chief Executive Officer and a member of the Board. "Craig has been a thoughtful and engaged leader since joining the Board," Mr. Foroughi said. "I was pleased to recommend he become the Chairperson, allowing me to fully focus on strategic execution." "The AppLovin Board is comprised of capable directors and I'm pleased to step into the Chairperson role," Mr. Billings said. "Since first meeting Adam in 2013, as a customer of the Company, I've seen firsthand how AppLovin helps companies grow. I am confident Adam and the leadership team will continue to deliver long-term shareholder value." Mr. Ge has served as the Company's Chief Product and Engineering Officer since November 2025, having previously served in various senior engineering roles since joining AppLovin in November 2022. Mr. Ge led the development of Axon 2.0 and currently runs the Company's engineering and product teams, which creates a natural transition to the CTO role. Ms. Cacovean has served as the Company's Deputy General Counsel, Privacy, Litigation & Regulatory since September 2023 and has played key roles leading the privacy, litigation and regulatory teams since she joined AppLovin in connection with its acquisition of Machine Zone in 2020. The Company also announced today that Alyssa Harvey Dawson will not be standing for re-election at the Company's 2026 Annual Meeting of Stockholders. The Board thanks Ms. Harvey Dawson for her years of service as a director. About AppLovin AppLovin makes technologies that help businesses of every size connect to their ideal customers. The company provides end-to-end software and AI solutions for businesses to reach, monetize and grow their global audiences. For more information about AppLovin, visit: www.applovin.com.

Insiders are showing confidence in several high-growth US companies through significant ownership stakes. The American market has climbed 3.5% over the past week and 31% over the year, with earnings forecast to grow 16% annually. AppLovin Corporation, with a $130.31 billion market cap, has demonstrated strong performance with earnings rising 116.3% over the past year. Revenue is expected to grow 21% annually, outpacing the broader market. The company recently completed a $4.59 billion buyback programme, though it faces high debt levels and share price volatility. Tesla, valued at approximately $1.35 trillion, generates revenue primarily from automotive operations ($82.06 billion) and energy generation and storage ($12.77 billion), with revenue forecast to grow 16.4% annually. High insider ownership often signals management's confidence in future prospects.