Video ad network Tremor Media is in the middle of a company-wide reorg — and co-founder and COO Andrew Reis, as well as Chief Strategy Officer Jesse Chenard, have left as part of the process.
Mediapost ClickZ first reported the news, which we’ve confirmed. Both execs have left to pursue as-yet-unannounced startup opportunities.
Tremor CEO Jason Glickman plans to fill in the gaps left by Chenard, so the tech and product development teams will now report directly to him. On the operations end, CFO Mark Pinney will take on more of Reis’ former responsibilities. (Pinney joined last year from AOL’s Platform A). There were lower-level management shifts as well, though Glickman told Mediapost that the restructuring didn’t include any layoffs.
So why the reorg now? Privately held Tremor seems to be on solid financial footing — it closed a $19 million third round of funding in February — and Glickman told Mediapost that overall revenue had doubled in the last year.
It could be that Reis, who founded the company with Glickman (they also incubated ContextualNet, another ad-based startup together) has been bitten by the entrepreneurial bug again — and that Tremor has become established enough that he’s ready for another challenge. Meanwhile, Chenard is the author of an in-stream video ad patent, so he could be itching to develop some new technology. What remains to be seen is whether the two execs have left to grow a new online video startup together.