Horswell quits PHD for new venture

Nick Horswell, a founding partner of the media agency PHD, is

quitting to set up a new operation to advise small communications

agencies.



His departure will break up the longstanding triumvirate with Jonathan

Durden, the co-chairman, and the chief executive, David Pattison.



PHD was established 12 years ago .



Horswell signed a five-year earn-out contract after the agency bought

itself out of Abbott Mead Vickers BBDO and then renewed it for another

year. He plans to leave in January 2002.



During his 12 years at the agency, Horswell oversaw internal operations

and also played a key part in the development of the PHD group

companies, which include Rocket, Compass and Apollo.



Horswell said he was leaving for personal reasons because he has "an

itch I want to scratch".



He added: "I've picked up a lot of different lessons over the years,

growing both businesses and people. I like the dynamics of small and

growing businesses and want to work in a hands-on sense with a number of

different companies, rather than in the non-executive chairman

role."



Horswell, a managing partner since the launch of the agency, was named

as the joint chairman of New PHD in January.



The January restructure also saw Tony Regan, a founder of Michaelides &

Bednash, appointed as PHD's first brand strategy director, to sit

alongside Morag Blazey, the managing director. Tess Alps, the chairman

of Drum PHD, became the deputy chairman.



It has not yet been decided if a joint chairman will be appointed as a

direct replacement for Horswell.



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