JCDecaux names Spencer Berwin and Philip Thomas as co-CEOs

Spencer Berwin and Philip Thomas have been appointed co-chief executive officers of JCDecaux with immediate effect.

Berwin was formerly managing director of sales for the out-of-home agency, while Thomas steps up from his role as finance director. Both will report directly to the company’s owner and chairman, Jean-François Decaux, who hands over his duties after three years directly running the business.

The new appointments come following JCDecaux’s failure to win the eight-year TfL tube contract from Exterion last month – estimated to be worth around £150m a year.

The company does, however, control TfL’s bus shelters in London and is set to roll-out 1,000 84-inch screens across the capital in the near future.

Commenting on the appointments, Decaux said: “Following our recent major contract wins, I have decided to hand the day to day management of the company to Spencer and Philip.

“I have the utmost confidence in them both to continue the success of the UK operation as we accelerate the investment in our digital transformation strategy.

“They have been with the group for a significant number of years and it is this stability of our management team that will continue to be a key strength in our future success.”