Rubicon Technologies Appoints Osman Ahmed as Interim CEO

NEW YORK–(BUSINESS WIRE)–Rubicon Technologies, Inc.  (OTC: RBTC), a leading provider of technology-based waste and recycling solutions, today announced that 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.

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

“On behalf of the Board, I want to thank Phil for his valuable contributions to Rubicon over the last nine years,” said Ahmed. “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.

Rodoni has 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,” said Rodoni. “We have come a long way as an organization, and I remain excited for the Company’s future under its new leadership.”

In May, Rubicon announced the sale of its fleet technology business unit in a deal that includes up-front cash of $61.7 million and an earnout consideration of $12.5 million that could become payable in 2024. This strategic move underscores Rubicon’s dedication to the RUBICONConnect™ product, which serves commercial waste generators from small to medium-sized businesses to Fortune 500 companies. Many of the Company’s commercial customers are looking to Rubicon to help them achieve sustainability goals with tailored zero waste and circular economy solutions, including through the Company’s Technical Advisory Services (TAS).

For more information about the CEO transition, please see the Company’s shareholder letter dated July 1, 2024.

About Rubicon

Rubicon builds AI-enabled technology products and provides expert sustainability solutions to waste generators and material processors to help them understand, manage, and reduce waste. As a mission-driven company, Rubicon helps its customers improve operational efficiency, unlock economic value, and deliver better environmental outcomes. To learn more, visit