CIA Group is planning an aggressive expansion and acquisition drive
following a top-level shake-up of its board, in which the company’s
founder, Chris Ingram, has surrendered his chief executive post.
Ingram, who launched CIA in 1976, is splitting his chairman and chief
executive roles and taking on the mantle of executive chairman.
David Reich, who is the chairman of the network’s European operations
and a director of the company, takes over as the group’s chief
Reich joined CIA in 1995 as a non-executive director, taking over as
chairman of its European network holding company the following year.
Reich is a former director of Aegis, the holding company for Europe’s
largest media independent, Carat, and was the international chief
executive of Carat.
CIA has also hired two new non-executive directors: Andrew Seth, the
former UK chief executive officer of Lever Brothers, and Michael Mander,
chairman of Maid.
The splitting of Ingram’s roles frees him to expand the CIA network.
CIA already has offices across Europe and Asia and is considering a move
into the US.
Ingram is also poised to consider a range of acquisitions, both within
the specialist media sphere and in associated industries.
’We can’t achieve our objectives purely with organic growth,’ Ingram
said. ’We will be expanding geographically and expanding our offering
through start-ups and strategic stakes in new companies.’