GroupM has overhauled its management team amid the ongoing restructuring by parent company WPP of its media agencies.
Former UK chief executive Nick Theakstone has been elevated to the role of global chief investment officer in a role which brings responsibilities for all aspects of GroupM’s global media investments, trading activities and commercial partnerships.
Theakstone’s arrival dovetails with that of Tom George who has simultaneously been named as UK chief executive. George is tasked with overseeing the organisations' British activities and reporting directly GroupM EMEA chief executive Dominic Grainger.
In his previous life George served as MEC’s chairman for UK and Northern Europe, and global head of business development.
The move comes amid GroupM's ongoing merger of MEC and Maxus, the savings of which will be used to fund the expansion of digital ad agency Essence.
GroupM global chief executive Kelly Clark commented: “I’m delighted that Nick and Tom will take on these important roles for GroupM. They are exceptional leaders, focused on creating advantage for clients and motivating opportunities for our people. Nick and Johan and their talented team will take our expanded investment operations to new heights, and I know Tom and our agencies will continue to build our successful UK business.”
GroupM is in bullish mood for 2018, predicting that UK ad investment will grow by 4.8% over the course of the year.