Former Yahoo VP Tim Cadogan will become CEO of OpenX, an open source ad-serving firm. The company will move its headquarters from London to Los Angeles to accommodate the new boss, reports BoomTown. At OpenX, Cadogan inherits funding from Index Ventures, Accel Partners, First Round Capital, Mangrove Capital and O'Reilly AlphaTech Ventures. Cadogan left Yahoo on February 29 "to do something different with career." Most of our commenters marked the news as a blow to Yahoo. "Tim was a guy that even the engineers respected," wrote therealsunnyvalequeen. Another: "The good, the bad and the incompetent. It's all too clear who remains at Yahoo."