Initiative's Worldwide CEO to resign
Jim Hytner (left) and Richard Beaven
Richard Beaven, global CEO of IPG Mediabrands company Initiative, will step down from his role in order to pursue a career in documentary photography, confirmed Chris Jones, Initiative's director of corporate communications on March 1.
Beaven's departure prompted a chain reaction of changes at the company: Jim Hytner, who currently leads sister company Universal McCann's operations in 14 countries, will replace Beaven and oversee Initiative's North American operations effective March 19. Tim Spengler, the current regional CEO, will be named global CEO at MagnaGlobal. Spengler's vacated position has not yet been filled, according to the company.
“Jim Hytner is a dynamic leader with a strong vision of how media is being transformed today and what this will be for our clients going forward,” IPG Mediabrands' Global CEO Matt Seiler said in a statement.
Beaven said in a statement that he would actively aid in helping the transition of power go smoothly. Beaven will remain as Initiative's chairman until the end of 2012.
Beaven first joined Initiative in 2006, when he was named CEO of Initiative North America. He became the company's Worldwide CEO in 2008.Hytner previously served as UM's president for Europe, the Middle East and Africa.View Beaven's photography at www.richardbeaven.com.