Beaven takes global helm at Initiative as Gerster retires
By Daniel Farey-Jones, brandrepublic.com, Thursday, 31 January 2008 04:15PM
LONDON - Alec Gerster, Initiative's worldwide chief executive and chairman, is to retire on March 1 and will be succeeded by Richard Beaven, chief executive and chairman of Initiative North America.
Gerster has been in the role since April 2002 when he joined Initiative after a 30-year career at Grey Global Group, most recently as worldwide chief executive of MediaCom.
Beaven joined Initiative in 2006 from MediaVest USA, where he was executive vice-president and managing director.
Earlier in his career, he played a leading role alongside David Connolly in forming Starcom UK out of Leo Burnett's in-house media department and merging it with Motive.
Gerster's record and succession planning were applauded by Michael Roth, chief executive and chairman of its parent company Interpublic.
Roth said: "Alec successfully steered Initiative through a period of unprecedented change in the media industry.
"He also succeeded in a task that challenges many chief executives -- finding an outstanding successor who is qualified as a practitioner and a leader to take a company forward."
Under Beaven, Initiative North America recently won a number of major media accounts including the $800m Hyundai/Kai business and the $150m Cadbury Schweppes business, following Bayer and Coors in 2007.
This article was first published on brandrepublic.com
- Mid Weight Planner - ATL Daniel Marks London £30-£50K + Excellent Benefits, Central London
- Content Manager Major Players £320 - £350 per day, London
- Research Director (Pharma & Healthcare) Trace £80000 - £110000 Per Annum + potential Equity, London
- Senior Client Strategist PFJ £45000 - £50000 per annum + + 15% bonus, London
- Category Consultant Ball & Hoolahan £50,000 per annum, London