LONDON (Brand Republic) - Engage has announced a new management structure for its European arm as part of its restructuring.
The online marketing software and interactive media company said earlier this month that it was shedding half its staff globally over the next few months, in an effort to cut costs. One of the casualties is the former European managing director Peter Chaplin, who is leaving the company.
The shake-up sees Engage re-organise its businesses, management teams and operating units into one organisation. This will have two groups, software and media. In Europe, Chris Hodges will be managing director of the software group and Jeremy Wright will become managing director of the media group.
Wright was previously Engage’s director of marketing and business development in Europe, and Hodges was senior vice-president of engineering.
The company now plans to focus more on its software business, which has higher gross margins than its other businesses. The workforce reduction and other operational changes are expected to save the company about $120m-$150m.