IPG Mediabrands, the media innovation unit of Interpublic Group announced Richard Beaven has decided to step down from his role as Worldwide CEO, Initiative, in order to pursue creative and business opportunities in documentary photography.
He will remain as Chairman, Initiative until the end of 2012. Jim Hytner will succeed Richard as Worldwide CEO – effective from March 19th.
Hytner, who currently leads sister agency UM’s operations in G14 (Germany, Spain, France, Italy, UK & Ireland, Japan, Australia, Netherlands, Brazil, Russia, China, Mexico, India), will also assume interim leadership of Initiative’s North American operations, taking on responsibilities from current regional President Tim Spengler, who steps up into the position of Global CEO at MAGNAGLOBAL. An announcement about Spengler’s replacement will be made in due course.
Hytner’s role at UM will be filled – effective immediately – by Guy Beach, a long-time IPG Mediabrands executive who has most recently been COO of UM globally and was previously COO of J3, IPG Mediabrands’ dedicated media services unit for Johnson & Johnson.
“We are fortunate to have within our ranks a deep bench of talent that is committed to our mission of delivering powerful results that clearly impact growth of clients’ bottom line,” said IPG Mediabrands Global CEO Matt Seiler.
Richard Beaven joined Initiative in 2006 as CEO of Initiative North America. Under his leadership, Initiative North America won a string of key clients, and considerably grew its business with existing clients. Richard has worked in media and advertising for 26 years and during this time his achievements have been recognized on numerous occasions by the industry.