Similarweb stock falls after naming new CEO

Investing.com -- SimilarWeb Ltd (NYSE: SMWB) shares fell over 7% Thursday following the company's announcement that Michael Akkerman will become Chief Executive Officer, effective November 2, 2026.

Akkerman will succeed founder and CEO Or Offer, who is stepping down after nearly two decades leading the digital data and analytics company. Offer's departure was previously announced in May 2026.

Earlier in his career, Akkerman served as Chief Product and Strategy Officer at Cardlytics (NASDAQ: CDLX) and held senior commercial leadership roles at Uber (NYSE: UBER) and Pinterest (NYSE: PINS). He also held global sales and strategy leadership roles at Kenshoo, an Israeli-founded enterprise marketing software company. Akkerman will be based in and lead from Similarweb's New York office.

Offer will remain involved through a transition period to support Akkerman and the Board. The company stated there is no change to its strategy, operations, or financial outlook.

Harel Beit-On, Chairman of the Board, said the appointment was the culmination of a thorough search process supported by Spencer Stuart, a global executive search firm. The Board prioritized a CEO with proven go-to-market, strategic, and commercial leadership experience to lead the company's next growth stage.

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