Sounds like a demotion to me.

CHICAGO — Playboy Enterprises Inc. said Monday it has promoted a veteran of the men’s entertainment industry and new media platforms to head the brand’s newly reorganized online content business.

Jimmy Jellinek, editorial director of Playboy’s print and online content, was promoted to chief content officer, a newly created job. He will oversee content development for all of Playboy Enterprise’s media properties including print, online, mobile, TV, film and radio.

He will report to Hugh Hefner, the founder, editor-in-chief and chief creative officer.

“Jimmy intuitively understands our 21st century culture,” Hefner said. “His creativity and ability to produce provocative content for Playboy magazine and Playboy.com make him an excellent choice to serve as chief content officer.”

Playboy consolidated its print and online operations earlier this year and redesigned Playboy.com, creating multi-platform advertising around the content. Last year, roughly half of the company’s advertisers bought Playboy magazine and Playboy.com.

Jellinek said integrating Playboy content across media properties will create more opportunities for advertisers to reach viewers and readers.

Jellinek, 35, has spent most of his career as an editor and branding expert in the general-interest men’s publishing field. Before working at Playboy, he was vice president, entertainment and programming for Heavy.com, where he oversaw original content and programming.

He also was Maxim magazine’s editor-in-chief where he ran the editorial operations and acted as overall brand director.

And Jellinek was editor in chief of Stuff magazine, responsible for leading the editorial staff, Playboy said.

Shares shed 7 cents, or nearly 2 percent, to $3.73 in afternoon trading.