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New PHD has launched the first stage of a major restructure as its chairman, Ken New, prepares to step down at the end of the year.
The agency is acquiring Partners BDDH's stake in their strategic planning joint venture MSc to beef up its strategic credentials and is now preparing to appoint a new chairman.
New, who is 55, will remain a non-executive director of New PHD. He will also continue as the chairman of the poster company Outdoor Connection and the outdoor industry research organisation Postar.
New's replacement as chairman is likely to be an internal appointment, sources suggest. New will step down after honouring his contract to stay for a set period, following Abbott Mead Vickers BBDO's acquisition of the agency in May 1996.
New joined from AMV where he was the ...