Adaptive Medias, Inc. announced two management changes to take charge of the strategic direction of the company and it's technology platform. The company announced the appointment of the current CEO of Beanstock Media and former head of sales at DoubleClick, Jim Waltz, as acting chief operating officer. Waltz will immediately take over operational leadership duties and responsibilities to serve clients, partners and stakeholders of the company.

Waltz will be reporting directly to the company's board of directors. Waltz currently serves as the chief executive officer of Beanstock Media. Although he will maintain his role as chief executive officer at Beanstock Media, Waltz is expected to dedicate most of his time and energies towards his newly-appointed role as acting chief operating officer of Adaptive Medias, Inc. The company has further formed a committee of five individuals to actively search for a successor to Qayed Shareef.

Shareef was terminated by the board of directors from his positions as chief executive officer and director of the company, effective immediately.