IPG Mediabrands investment chief, Lucy Formosa Morgan, and chief finance officer John Clements are the latest casualties in Omnicom’s takeover of IPG Mediabrands.
They followed Australia CEO Mark Coad and APAC chief Leigh Terry through the exit door this week.
Formosa Morgan has more than 20 years of experience across Australia and the UK, across agency and media owners.
She served as investment chief at Omnicom’s PHD for nearly nine years during that agency’s ascent to become one of Australia’s largest and most successful media agencies.
Formosa Morgan has also had stints at OMD and Nova Entertainment.
Her role post Omnicom takeover was always likely to be under threat. Omnicom Media promoted Marelle Salib to chief media partnerships officer in April, stepping into a void left by current CEO Kristiaan Kroon.
Clements has been the finance chief for IPG Mediabrands for nearly a decade. Omnicom veteran Donna Bartlett was appointed CFO of the newly merged Omnicom this week, leaving Clements without a role.
In an internal Omnicom staff email seen by B&T, Kroon said: “I also want to acknowledge Mark Coad and John Clements, who have led IPG ANZ with commitment and care. Leadership transitions are significant moments, and I want to recognise the contributions they have made to the IPG business and to all the people across it over many years.”
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