Cannes chief executive Reid steps down
Penny Reid, chief executive of the Cannes Lions International Advertising Festival, has resigned her post for personal reasons. <BR><BR> Reid joined the festival in January from Tequila\London, succeeding Terry Savage, who was promoted to the role of executive chairman in the summer. Savage had been chief executive since before the festival was acquired by Emap in 2004 for £562.5m. Tequila\London confirmed that Reid was to leave as chairman of the agency in December last year. She had been with the company for seven years. <BR><BR> Prior to Tequila\London, Reid was managing director of TBWA\GGT and became the joint chief executive when the agency merged with Tequila. <BR><BR> Her experience in the industry stretches back 20 years and also includes roles at Saatchi & Saatchi and BMP DDB. <BR><BR> A new CEO at Cannes, who will continue to report to Savage, is now being sought. <BR><BR> <a href=" http://www.brandrepublic.com/home/article/570001/cannes-chief-executive-reid-steps-down-post/">Click here for Brand Republic</a>
