Mark Coad is stepping down from his role as CEO of PHD Australia to join IPG Mediabrands as Australia CEO, and PHD has promoted Mark Jarrett from MD to CEO to take his place.
IPG Mediabrands announced Coad's appointment, which fills a role vacated by Danny Bass earlier this year, this morning. The announcement followed shortly after Omnicom announced that it was promoting Jarrett to lead PHD following the departure of Coad, who had been PHD CEO for seven years.
Leigh Terry, APAC CEO of IPG Mediabrands, has been acting CEO for Australia since Bass departed the role in February. He will continue to cover until Coad joins in mid-Q1 in Melbourne, according to the company.
Coad has more than 27 years of experience and has served as CEO of OMD Australia, CEO of Clemenger Harvie Edge, MD of OMD Melbourne, MD of MEC Melbourne and media director at Y&R.
Prior to becoming MD of PHD in 2016, Jarrett spent 12 years with OMD, eventually as MD of OMD Sydney. Earlier in his career he worked at MediaCom.
“To attract a transformational industry leader of [Coad's] caliber to our network is truly testament to the strength of our brands in the Australian market and the power of our promise of trusted client partnership” Daryl Lee, global CEO of IPG Mediabrands, said in a release.
Added Terry, "This role is a key hire for both our Asia-Pacific region, and our global network. We took time to find the right person to support the growth of the business and protect the unique culture that acts as positive differentiator in this market.”
Omnicom CEO Peter Horgan said in a release that the company is "extremely grateful for the legacy Mark Coad is leaving across Omnicom Media Group". "After an extensive search, it was clear that Mark Jarrett was the right person for the CEO role," Horgan added. "Jarrett has already helped take PHD to the next level and I am confident he will continue to build further success for PHD."