Morgan will take on a wider general management role over the youth-focused agency, which has clients including MGA-Bratz Dolls, Vtech, Tommee Tippee and Mamas and Papas.
She will lead the agency’s new business efforts and retain her client service responsibilities. Morgan will continue to report to Weller.
Morgan has been at Generation Media for the past five years, where she was responsible for growing and developing the agency alongside Weller as the head of planning and latterly the director of client services.
Weller’s move to chief executive reflects the widening businesses sitting alongside the main Generation Media agency, including iGen Insight, Generation Media Exchange and Next Generation Exchange, the shop’s international arm.
Weller said: "These structural changes are necessary as the company embarks on the next stage of its journey.
"Lisa’s promotion is testament to the pivotal role she has played so far in carving out the agency’s client offering and its market leading position as media buyers in the kids, youth and parenting market spaces. We have no doubt we will continue to flourish under her leadership."
Generation Media has also appointed Sherif Kader, an account director at Chime’s Pure Media, as its head of planning. He has been asked to shape the future of the agency’s planning and insight offering, taking over from Morgan.
Morgan said: "Appointing a new head of planning is strategically important move for the development of our company.
"Kader’s cross-market experience will prove vital in both existing and new business development plans and to further accelerate growth of our leading, specialist, independent agency offering."
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