Rubicon CEO steps down

Rubicon Technologies Inc., a Lexington, Kentucky-based provider of technology-based waste and recycling solutions, has announced Phil Rodoni will be stepping down as CEO of Rubicon and as a member of the company’s board of directors, effective immediately. Osman Ahmed, formerly lead independent director on Rubicon’s board, has been appointed interim CEO.

Rodoni served as Rubicon’s CEO since 2022. Prior to that, he served as the company’s chief technology officer between 2015-2022. He came to Rubicon from Esurance, where he held the role of vice president of software development.

“It has been a pleasure leading Rubicon,” Rodoni says. “We have come a long way as an organization, and I remain excited for the company’s future under its new leadership.”

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Ahmed served as lead independent director on Rubicon’s Board of Directors since the fall of 2022. He is cofounder of New Circle Capital, a structured capital provider to small and mid-cap companies, and senior advisor at 10X Capital, a multistrategy technology investment firm.

“On behalf of the board, I want to thank Phil for his valuable contributions to Rubicon over the last nine years,” Ahmad says. “Rubicon has made tremendous strides in multiple areas of the business since our public listing, and I am enthusiastic about the value creation opportunity that stands in front of us. I am grateful to the board for putting its trust in me during this period of transition.”

In conjunction with his appointment, Ahmed has stepped down from the board’s audit committee and as lead independent director but will remain as a member of the board.

In May, Rubicon announced the sale of its fleet technology business unit in a deal that included up-front cash of $61.7 million and an earnout consideration of $12.5 million that could become payable in 2024. The company says the sale underscored its commitment to its RubiconConnect product, which serves commercial waste generators from small- and medium-sized businesses to Fortune 500 companies.