The Brahm agency unveils succession management plans

The Brahm agency in Leeds has named John Morgan and Julie Hanson as its joint managing directors as part of a plan that will see ownership of the business pass from its founding partners to its senior management.

The pair, currently board directors, will assume overall responsibility for the management of the 20-year-old company during the coming year.

The succession management has been planned to strike a balance between satisfying the financial needs of the retiring founders and releasing equity that is affordable to their successors, while avoiding the danger of fall-out and disintegration of the £30 million-billing business.

The scheme allows the agency's remaining founding partners, Mike Baxandall, Clive Rand and Tony Handley, to retain the building from which Brahm operates to provide a "pension fund" when they choose to sell it.

Baxandall will remain as chairman for a minimum of three further years while Handley and Rand will stay until the end of 2003.

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