ZenithOptimedia has announced that Rich Hamilton, chief executive officer of the agency’s America’s division has stepped down from the role, for personal reasons.
The position will be filled by Tim Jones, chief strategy officer at ZenithOptimedia USA, who will assume most of Hamilton’s roles.
Other key players in ZenithOptimedia’s US team will also be promoted, with Wendy Marquardt being promoted to chief operating officer and Peggy Green assuming the role of president of broadcast and entertainment.
The company would not comment on the personal reasons for Hamilton’s departure. In a statement, Steve King, chief executive officer of ZenithOptimedia Worldwide said: “Being able to accomplish these changes within the existing management speaks volumes to the commitment, talent and leadership qualities of this team.”
Last month, the agency released estimates for global advertising expenditure, predicting it to increase by 4.7% this year, bringing 2005 adspend growth in line with expected GDP growth (see Global Adspend Growth Forecast In Line With GDP).
The agency’s outlook for 2006 is also positive, with advertising spend estimated to be up 6.1% compared to just 4% for the economy. These latest figures, however, are slight downward revisions of Zenith’s previous predictions made in April of this year, when advertising spend was expected to grow by 5.4% in 2005 and by 6.5% in 2006 (see Advertising Market Forecast To Remain Solid).
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