Victor Corones, the managing director of Magna Australia, the investment and trading arm of IPG Mediabrands, is leaving.
Mediabrand says Corones -- "after some discussion" -- decided to take time out to consider his next career move. He was at Mediabrands for 15 years.
Mediabrands said: "Victor led Magna to become the market-leading resource it is today as a first-class trading, accountability and media insights organisation within the Mediabrands group. He will leave us with our gratitude, our respect, our support and our best wishes."
Earlier this week IPG Mediabrands in Australia asked its staff to take a 10% cut in pay and reduce working horus to a nine day fortnight as as clients reduce spend during the coronavirus crisis.
Corones was appointed the Magna Global lead for Australia in April 2011 when the division launched. He oversaw key client negotiations across the IPG Mediabrands Australia group of businesses.
The company says the structure of Magna’s leadership will be announced later.
"There is a strong and effective management team at Magna, fully supported by the strategy and investment leads in our individual businesses," says Mediabrands.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.