Tim Cadogan to be in charge of OpenX

Former Yahoo senior vice-president Tim Cadogan is joining open-source ad network OpenX as chief executive officer. As part of the hire, OpenX is moving its headquarters from London to Los Angeles.

Cadogan was SVP of global advertising marketplaces for Yahoo and has also worked as VP of search at Goto.com/Overture.

The startup, backed by Index Ventures and Accel Partners, has raised $20.5 million since last summer. In Feburary, former AOL CEO Jonathan Miller signed on as chairman.

OpenX is an open-source advertising server licensed under the GNU General Public License, with an integrated banner management interface and tracking system for gathering statistics. With phpAdsNew you may rotate paid banners and in-house advertisements. You can also show banners from third party advertising companies.

Sites using OpenX software form their own network of 30,000 mostly small publishers (also some bigger ones such as TheStreet.com, TechCrunch and CBS's Last.fm).