Inuvo said it appointed Derric Ciccone president and chief financial officer, succeeding Wallace Ruiz, effective Aug. 17.

Ruiz's retirement follows 16 years of leadership at Inuvo. He has played a central role in shaping the acquisition of NetSeer assets, the commercialization of IntentKey technology and the scaling of Bonfire, the advertising company said.

Ruiz will remain with the company in an advisory capacity until Dec. 31 to assist with the transition.

Ciccone has more than 20 years of finance, operations and commercial experience across advertising, digital media and e-commerce, the company said. He most recently served as global chief financial officer of Omnicom Commerce Group.

Inuvo also promoted Vice President Aleesha Parris to chief accounting officer after more than a decade with the company.