Penny Reid Resigns Her CEO's Post at Cannes Lions

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Penny Reid, CEO of the International Advertising Festival, better known as Cannes Lions, has resigned.

Ms. Reid, who in January took the top job at the world's most prestigious advertising contest, is said to have quit for personal reasons. She succeeded Terry Savage, who is currently executive chairman of the London-based organization.

The resignation was handed in July 14. The news comes less than a month after the 53rd Cannes Lions was held June 18-24 in the French Riviera resort of Cannes, attracting nearly 10,000 advertising and marketing professionals from around the world.

A 20-year veteran of marketing, Ms. Reid served stints at Saatchi & Saatchi, BMPDDB and TBWAGGT. She was most recently chairman of Tequila London.

A Cannes Lions spokeswoman said the search for a new CEO soon will begin.

"We'll start looking to interview people in early August, and hopefully we'll be able to announce a new CEO shortly," said Amanda Benfell, who heads public relations at Cannes Lions.

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