CEO You Later: Madvertise Founder Steps Down As European Mobile Ad Company Builds A Bridge To Silicon Valley

Another day, another CEO parts ways. This time it's the turn of Madvertise co-founder Carsten Frien who is stepping down from his position as CEO at the European mobile ad company. He's being replaced by Christof Wittig, an experienced (and successful) entrepreneur, who -- despite being a native of Germany, where Madvertise is headquartered -- was most recently a VC in Silicon Valley with San Francisco-based firm Kii Capital.We understand that the change at the top job wasn't a hostile one (after spending 5 years helping to build Madvertise from scratch, Frien will stay involved at an Advisory Board level) but that it comes at a time when the company is looking for further International expansion, namely in the U.S., East Asia and emerging markets -- hence Wittig's appointment.