From 15 April, Penzer will oversee Time Out’s multimedia expansion across Europe, holding responsibility for its owned and operated business within the region.
Penzer has been at AOL UK for four and a half years, and has led the commercial operation across its portfolio of businesses, including Huffington Post, TechCrunch, and AOL Platforms, for the past two years.
He has been instrumental in repositioning the company across its three core pillars of content, programmatic and video.
Prior to working at AOL, Penzer was business development director at Warner Music EMEA, where he was part of the senior management team for UK and EMEA, responsible for driving new revenues in both traditional and non-traditional areas of the business.
Tim Arthur, group chief executive of Time Out Group, said: "With six new UK cities having launched in last six months alone, I’m thrilled that Noel is joining us and I have no doubt he will be a key player in Time Out’s continued expansion.
"Noel’s wealth of experience across an impressive portfolio of media and content brands will ensure that the Time Out European business continues to deliver against our growth ambitions."
Penzer told Campaign: "I’ve been a big fan of Time Out for years and so it’s great to be joining the business at this exciting time of expansion and growth. I look forward to working with Tim and the senior management team to deliver the vision of the business across Europe."