Goodtechnology founder Richard Davies quits after 11 years

LONDON - Richard Davies, the founder and chairman of the WPP-owned digital agency Goodtechnology, is to leave the outfit he set up 11 years ago and has appointed an independent board to take over the running of the business.

The agency is also understood to have picked up a project for British Airways, whose digital account has been the subject of speculation since its incumbent agency, i-traffic, merged with last summer and lost three key members of staff in the process.

The managing director, Xanthe Arvanitakis, will take over management of the Goodtechnology network, which includes XM London (formerly Bates Interactive) and Digit. She continues as the managing director, but is expected to be promoted to chairman in due course.

Arvanitakis joined Goodtechnology in 1999 as its marketing director before being promoted to chief operating officer in 2002 and managing director one year later.

Joining her on the board are the recently appointed creative director, Marc Giusti, the technical director, Daniel Strawson, the new-business director, Almira Mohamed, and the creative services director,Samantha Bertram.

Goodtechnology has also rebranded to reflect the new business structure. It now employs 150 staff on a turnover of around £7 million.

Since 2002,Davies has been focused on mergers and acquisitions and says he expects to complete the purchase of a mobile marketing company before he steps down in July. He will then look at start-up opportunities, including the development of a digital production company with a focus on content for digital channels.

In the meantime, he will consult to companies in which he has investment interests, including Tempero, a business that moderates chatrooms and other forms of interactive messaging.

"Leaving has been on my mind since WPP took over [in 2002]," Davies said.

"I've set up various businesses, my skill-set lies in developing nascent businesses and that's what I want to do again."

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