Undertone Promotes COO Corey Ferengul to CEO; Founder and Current CEO Michael Cassidy Transitioning to Non-Executive Chairman

Undertone Promotes COO Corey Ferengul to CEO; Founder and Current CEO Michael 
Cassidy Transitioning to Non-Executive Chairman 
Transition Follows Year of Record Revenue and Profitability and
Positions the Company for Its Next Phase of Growth 
NEW YORK, NY -- (Marketwired) -- 05/20/14 --   Undertone, a leader in
creating digital advertising solutions for brands, has announced the
promotion of Chief Operating Officer Corey Ferengul to Chief
Executive Officer. The company's founder and current Chief Executive
Officer Michael Cassidy will be transitioning to the role of Chairman
of the Board of Directors. The changes will be effective June 1,
2014.  
Under Cassidy's leadership, Undertone has grown from a startup in
2001 to a leader in cross-screen digital advertising. The company
employs more than 300 people across the U.S. and Europe and works
with the world's largest brands, agencies and media owners. 2013 was
a year of significant growth for Undertone. The company added nearly
100 new employees, moved into new headquarters in New York City, and
had record revenue and profit. Over the year, the company continued
to push the boundaries of innovation with launches including
ScreenShift(R), a new high impact ad format built using responsive
design, and Future Proof Labs(TM), research facilities exploring
emerging technology and its impact on the future of advertising.  
"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," said Cassidy.
"Undertone is entering an exciting new era, one in which we are
fusing our cross-screen creative solutions with an expanded technical
infrastructure, and Corey is the right executive to lead the
organization to new heights. He brings all the necessary blend of
skills in his experience from growing organizations. I'm excited to
work with him and the rest of the executive team in my new role."  
Ferengul joined Undertone in 2013 as Chief Operating Officer. He has
more than ten years of executive experience with a strength in growth
companies. Prior to Undertone, he held the position of Executive Vice
President, Product Management and Strategy at Rovi Corporation, a
publicly traded digital media entertainment company. While at Rovi he
was a key member on an executive team that more than tripled revenue
and market cap over a 6 year period. Prior to Rovi, Ferengul held
executive and management roles at Unitech Systems, META Group and
Platinum Technology. He currently sits on the board of George R. and
Martha Means Center for Entrepreneurial Studies and is a graduate of
Illinois State University.  
"This is a fantastic opportunity and I'm grateful for the confidence
of Michael and the Board in my ability to lead the company through
its next phase of growth," said Ferengul. "I joined Undertone because
of its differentiation, strong customer relationships and a track
record market-outpacing growth. I'm excited by the fast moving
dynamics of the digital advertising market and I look forward to
propelling Undertone forward." 
About Undertone. 
 Undertone is a digital advertising company that
sits at the intersection of media, creative and technology. We
develop immersive high impact, video and display ad units that enable
brands to engage consumers beyond the confines of traditional banner
ads. Through our technology platforms, we deliver these ads across
screens and devices on a handpicked portfolio of publisher partners.
Find out more at www.undertone.com.  
Contact Information:
Eric Franchi
eric@undertone.com 
212.685.8000 x1123 
 
 
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