Today, Dentsu Aegis Network announced that Jerry Buhlmann, the chief executive of the company, is stepping down from his position after nine years in the role.
The advertising agency said that Buhlmann will be formally stepping down on the 31st of December, however, it said that he will continue working in an advisory capacity.
He will be replaced by Tim Andree, the executive chairman of the company. He will be combining the two roles.
Buhlmann was appointed as the chief executive of the Aegis Group way back in 2010. He continued on his role as the head of the newly-formed Dentsu Aegis Network after Tokyo-based Dentsu acquired the company for £3 billion in 2013.
Buhlmann stated: “I am very proud of what the organisation has achieved in that time.”
He added: “The highlight for me has been working with a group of very talented people and the impact we have been able to make based on strong teamwork, a supportive parent company and a dynamic culture.”
Dentsu Aegis has its headquarters in London. It operates 10 network agencies in 145 countries across the globe. Last month, the firm was able to secure a lucrative $300 million (£232 million) deal to handle the media activity of Intel.
The president and chief executive of parent company Dentsu, Toshihiro Yamamoto, stated: “From the start, Jerry has had a bold vision for Dentsu Aegis Network. His drive and leadership has ensured that Dentsu’s acquisition of Aegis Group plc has been an outstanding success.”
Yamamoto said that the company has doubled its revenue in the past five years from £1.8 billion to £3.6 billion. It comprised of more than 60 percent of the total revenue of Dentsu.
He added: “I am delighted to appoint Tim as Jerry’s successor. Ever since joining Dentsu in 2006, Tim has led the globalization of the Dentsu Group.
“As a member of the Dentsu Inc. board and also the executive chairman of Dentsu Aegis Network, Tim has a deep understanding of the business’s market proposition, culture and values.”