A shakeup at digital ad agency Razorfish has promoted Bob Lord to CEO, replacing Clark Kokich. Kokich will move into the new role of chairman. Lord has been with Razorfish since 2000; he most recently served as president of the agency’s East U.S. division, and also oversaw its Latin American business. All of the agency’s regional presidents will now report to him.

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Kokich, who served as CEO since 2007, will still “work directly with core accounts,” in addition to overseeing the agency’s strategic direction.

Like most agencies, Razorfish has had its ups and downs in recent months: the shop laid off about 80 staffers, and there were rumors that parent company Microsoft was trying to sell it to WPP. But Razorfish also picked up new duties for clients like Mercedes-Benz USA and Starwood, and Chief Strategy Officer Jeff Lanctot said there were plans to make some acquisitions in the coming months.

Release.