NEW YORK 24/7 Real Media said Jonathan Hsu will take over as CEO from company founder Dave Moore, who remains chairman.
Hsu, 36, has served as the WPP Group ad network’s chief operating officer for two years. He has spent eight years at the company in executive positions, including chief financial officer and svp, corporate development and strategic planning.
Moore has led 24/7 for a dozen years, through its acquisition of Real Media and stint as a publicly traded company. WPP acquired 24/7 for $649 million in May 2007, signaling a shift in the holding company’s structure to include a technology component.
WPP has used 24/7 to standardize some tech tools across its shops. For example, its media agencies all use Decide DNA as their bid-management platform. Likewise, WPP struck a deal for its shops to easily access Yahoo!’s Right Media ad exchange using 24/7’s technology. The company’s search operations have become part of GroupM Search.
WPP is the only major holding company to acquire an ad network and server such as 24/7. At the time of the purchase, WPP executives said the move signaled that the ad industry as a whole was becoming more technology oriented.
24/7 said Moore would continue to have an active involvement in the company, working on its recruitment and business development. He will also advise WPP Digital on broader interactive strategy.
“These changes give both executives new responsibilities that will be both challenging and rewarding, and further enhance the future of the company and WPP Digital,” said WPP Digital CEO Mark Read in a statement.