In keeping with the continuing evolution of the company, after a difficult recent stretch, MDC Partners has announced that Larry Kramer and Anne Marie O’Donovan have been elected to its board of directors.
Kramer previously served as the founder, chairman and CEO of MarketWatch, past president and publisher of USA Today, and presently serves as chairman of the board of directors TheStreet. He is also on the Board of Gannett.
O'Donovan is the past executive vice president of Scotiabank and a longtime partner at Ernst & Young. She presently serves on the board of Indigo Books and Music.
"We are thrilled to have bolstered our board with the addition of these two talented and experienced independent directors," said Scott Kauffman, chairman & CEO of MDC Partners.
"Larry has been one of the pioneers in digital media since the dawn of the internet, with decades of leadership experience as an executive and board member of private and public companies. Anne Marie is one of Canada's most accomplished executives, and brings an excellent track record of experience in financial services, governance and risk management. I look forward to continuing to build on these important steps with additional director appointments in the months ahead.”
According to The Wall Street Journal, MDC Partners - which owns top agencies including CP+B, 72andSunny, Anomaly and Colle+McVoy - highlighted their progress in cost-cutting, balance sheet improvement and, most importantly, winning new business to the tune of $27.4m in new net business in Q4. Organic revenue rose 7.2%.
Kauffman showed candor about the imbroglio involving former CEO, Miles Nadal, but also kept it positive, indicating that the company is moving in the right direction and that it didn’t affect momentum, with the company projecting 2016 revenue of $1.41bn to $1.44bn, a 6.3% to 8.6% increase from 2015.
“We emerged from a tumultuous summer firing on all cylinders and we didn’t miss a beat.”
Source: The Wall Street Journal