The Week: People news - Initiative's Gerster to retire

Alec Gerster, the chief executive of Initiative Media, the Interpublic-owned media network, is retiring at the age of 60. He will be replaced by Richard Beavan, the chief executive of Initiative North America. Beavan, a former Starcom Motive director, joined Initiative in 2006 from MediaVest USA, where he was the executive vice-president.

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