Following this morning’s shock news of PHD CEO Mark Coad’s abrupt departure, it hasn’t taken long to discover where he’s off to, today appointed as IPG Mediabrands Australian CEO.
IPG has been CEO-less since the departure of Danny Bass back in March this year.
It also follows a week of sensational CEO news following the shock sacking of Dentsu Aegis Network CEO Henry Tajer on Tuesday.
As reported on B&T this morning, Coad has quit his role as CEO of Omicom’s PHD after seven years, to be replaced by Mark Jarrett.
In his new role, Coad will be based in Melbourne and will report to Leigh Terry, CEO IPG Mediabrands APAC. He is due to commence the role in early 2020.
Commenting on his new role, Coad said: “IPG Mediabrands has seen great success in Australia over many years. I am really excited by the prospect of making a contribution to the continued success of the business. The chance to work with like-minded, highly capable people, and lead this company across Australia is a privilege, a challenge, and an incredible opportunity – all in equal measure.”
Leigh Terry added, “This role is a key hire for both our Asia- Pacific region, and our global network. We took time to find the right person to support the growth of the business and protect the unique culture that acts as positive differentiator in this market. Coad is a true professional, a one off.”
Daryl Lee Global CEO IPG Mediabrands said: “To attract a transformational industry leader of Mark’s caliber to our network is truly testament to the strength of our brands in the Australian market and the power of our promise of trusted client partnership.”
Coad has more than 27 years industry experience. Having commenced his career with a bachelor of business in quantitative analysis and applied economics he moved quickly through the media ranks to become one of the youngest media directors at Y&R Melbourne by age 30. Followed by his first managing director role at MEC Melbourne at age 35.
In 2003 Coad joined the Omnicom Group, first as managing director OMD Melbourne, and later as CEO OMD Australia where he drove the upward trajectory of the business earning several awards and accolades. Following three years as CEO of Clemenger Harvie Edge, Coad returned to media to take up the post of CEO PHD Australia where he has led the substantial growth and restructure of the agency business since 2012.