Kevin Walsh, CEO of Carat Asia Pacific, has "stepped down" from his position "with immediate effect", according to a statement shared exclusively with Campaign this morning.
Walsh, who held the role of CEO for just eight months since his promotion from managing director in April last year, left yesterday after reportedly reaching a "mutual agreement" with Carat. Staff have been notified internally.
Sean O'Brien, CEO of MKTG Asia Pacific and Posterscope Asia Pacific, will return to Carat in an interim role as CEO from today, until a permanent replacement for Walsh can be found.
Campaign understands that the decision was business related.
In Februrary 2016, Walsh was promoted within Carat APAC from chief digital officer to the newly-created role of managing director. Then-CEO Sean O’Brien praised Walsh for his “exceptional level” of commercial acumen and management skills.
Walsh has more than 22 years of experience in media, mostly focused on digital. Prior to Carat, he held various senior leadership roles including executive media director at NetX in Australia, managing director at Neo@Ogilvy in both Sydney and Melbourne and managing director at iProspect Australia and subsequently, Asia Pacific. High-profile brands he’s worked with include Visa International, MasterCard, Warner Brothers and many more.