Phil Phelan is quitting as MediaCom Melbourne’s managing director and handing the reins to new business director Peter Barrie (pictured).

In a statement the company said the handover has been planned for “some time” leading to a stepped changeover with Barrie, who was previously CEO of Carat Australia.

It is not clear what Phelan is moving on to do.

CEO Mark Pejic said: “Phil is committed to our business in the short term, as we are to his successful move, and he will assist Peter in transitioning into the MD role. 

“Whilst he will be sincerely missed, we wish him continued success as he steps into the next chapter of his career”. 

Phil Phelan said: “MediaCom has given me a lot. A great career, significant personal and public achievements, the chance to work with an amazing array of great marketers, and many lasting friendships and experiences.

“It is the strongest media agency in Australia and I know it has an exciting and successful future ahead of it. After a rewarding 15 year career in media it’s time for me to apply myself to new challenges.”