Hodges moved earlier this month to replace I Feel Good founder James Brown as editor of Dennis Publishing's newly acquired magazine Jack.
Fennell, who has recently been involved in relaunches such as Motorcycle News, Max Power and More!, joined last week.
He arrives as Maxim editor in chief Tom Loxley attempts to target the 25-year-old 'post-lads generation' - through an editorial shift in its fashion and lifestyle sections - to become a 'bright blokes magazine' (PRWeek, 20 June 2003).
Loxley ruled out any form of relaunch but said that the magazine had been going through 'editorial evolution'.
He added: 'We have increased the coverage of fashion and leisure. We want to engage men that have money and want to buy stuff such as clothes and gadgets.'
Dennis Publishing also plans to boost flagging sales of Jack, currently understood to be around 30,000, through cross promotion and leveraging the clout of Maxim.