• by Tyler Loechner  @mp_tyler, May 20, 2014

Undertone on Tuesday announced the promotion of Corey Ferengul from COO to CEO. He will replace current CEO Michael Cassidy, who will become chairman of the board of directors. The moves will go into effect June 1.

“After 13 years at the operational helm of Undertone, and with a sustained trend of growth and innovation, the time is right for me to move into a new role as Chairman of the Board,” stated Cassidy. 

Cassidy added that Undertone is entering a “new era” -- one in which the company will focus on cross-screen advertising and expanding its technical infrastructure. He stated: “Corey is the right executive to lead the organization to new heights.”

Ferengul joined Undertone last year as COO. He was previously executive vice president of product management and strategy at Rovi Corporation.