MEC Hires Starcom's Amanda Richman as U.S. CEO
August 18 2017 - 11:59AM
Dow Jones News
By Suzanne Vranica
Ad-buying firm MEC has named Amanda Richman as chief executive
officer of its U.S. operations, as the company begins the
challenging task of absorbing its sister agency Maxus.
A 12-year veteran of Publicis Groupe, Ms. Richman has been
president of investment and activation at the holding company's
Starcom USA media agency since 2013.
Ms. Richman, 50 years old, began as a specialist in digital ads
but has risen through the ranks and now oversees ad buying across
all media channels for companies such as Airbnb and Bank of
America.
She is expected to join MEC in October and will report to Tim
Castree, MEC's global chief executive, MEC said.
In her new role, Ms. Richman will be charged with helping MEC
ensure the success of its combination with sister agency Maxus.
Both are part of GroupM, the umbrella firm that houses WPP PLC's
ad-buying shops, which announced the consolidation in June.
MEC had billings of roughly $25 billion in 2015, while Maxus had
billings of roughly $11 billion in 2015. Clients of the two
agencies include L'Oréal, Netflix, Vodafone and Paramount
Pictures.
Consolidating the two agencies is part of a broader effort by ad
holding companies to save money and reinvent their businesses. Ad
firms are under pressure from clients to reduce the fees they
charge and figure out a new business model that will help agencies
stand out as the business of buying ads has become a commoditized
service.
It is critical "to define what your brand is, what you stand for
and how you differentiate yourself in this very cluttered
marketplace," said Ms. Richman.
Still, combining agencies is not easy. Not only do ad firms have
to convince clients that a merger is beneficial to their business
but MEC must also make sure the cultures of the companies meld in
order for the two firms to successfully integrate their operations
and succeed in the marketplace.
In a statement, Mr. Castree called Ms. Richman a "proven
culture-builder."
One of the first priorities for Ms. Richman will be to focus on
the people at the newly combined agency.
"Talent is the number one thing we need to focus on because
people are still the number one driver of this business," Ms.
Richman said. "Creating a culture and a united culture has got to
be our first focus."
Write to Suzanne Vranica at suzanne.vranica@wsj.com
(END) Dow Jones Newswires
August 18, 2017 12:44 ET (16:44 GMT)
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