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, who had been CEO of GroupM in the U.K., will be based in London and New York. He reports to GroupM Global CEO Kelly Clark.
Tom George was named to succeed Theakstone as GroupM CEO in the U.K. He had been chairman of GroupM’s MEC unit for the U.K. and Northern Europe and head of business development.
George, most recently the chairman of MEC in UK and Northern Europe, takes over at a crucial moment for Group M, which has merged his old agency with Maxus to form Wavemaker and is seeking to build up sister digital agency Essence into a full-service media network.
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.”