Mark Coard, the CEO of IPG Mediabrands, has stepped in to run Initiative to fill the hole left by the defection of three senior executives.
Mark Coad’s additional role of acting CEO of Initiative ANZ was revealed in an announcement on the promotion of Megan Davey to the newly created role of head of Melbourne following the resignation of Sarah James.
James, the managing director of Initiative Melbourne, has moved to GroupM’s EssenceMediacom to be chief investment officer.
Melissa Fein, then CEO of Initiative Australia, and her senior team of Sam Geer and Chris Colter, in May announced a move to competitor Accenture Song.
Insiders say Fein, Chris Colter, chief strategy and product officer, and Sam Geer, managing director, are on reduced duties until their notice period is up.
Analysts described the defection as the biggest of senior players from a media agency locally.
Fein was last year, named CEO of the Year by CEO magazine, credited Geer and Colter for helping her build a world class team.
“Once we formed that trio, they say talent attracts talent and we were able to bring other people in, but really it was about just believing in growing brands,” she said.
Fein joined the media agency in 2016, replacing Lee Leggett, currently CEO of CHEP Network.
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