MediaCom CEO Mark Pejic has left MediaCom - yet another departure of a senior figure within GroupM in the last few months.
The WPP agency today announced Pejic has resigned to pursue other interests - hot on the heels of GroupM CEO John Steedman's plans for departure and chief investment officer Danny Bass' resignation.
Pejic had been with MediaCom since the agency’s formation in 2004 following a merger with Zenith Media, where he was MD. He began his career at JWT in 1989 and spent nine years in various media positions at the agency before moving to George Patterson Bates and then Zenith Media.
He took up the reins as MediaCom CEO in 2012 after a three-year stint as COO, and was "instrumental" in growing the business during that time.
“I have enjoyed a rewarding 11 years with MediaCom, both in Melbourne and Sydney, and enjoyed the opportunity to work with great people and great clients in both cities. It’s now time to move on and pursue a different opportunity. I wish my successor and my friends at MediaCom every success in the future," Pejic said.
Steedman recently revealed his intent to retire from the role and Bass, who was believed to have been seen as a natural successor to Steedman, then made the decision to take up the CEO role at IPG Mediabrands in wake of Henry Tajer's bump up to the global top job.
Last month, GroupM unveiled the appointment of a chief financial officer, Jeff Hunt. GroupM in Australia had not previously had a local CFO, with its finances run through at a regional level. It is thought the CFO will sit alongside the new CEO as they get a handle on the business.
An announcement on the successor as CEO will be made within the coming weeks but in the interim, Mark Heap, MediaCom Asia Pacific CEO, will be standing in.
“Mark has been a committed and loyal employee and his passion, energy and talent will certainly be missed. He has played a central role in the success of MediaCom in the Australian market, and we are grateful for his contribution. We will be making an announcement in the coming weeks regarding his successor," Heap said.
The departure of Pejic is the highest-profile departure at the agency since news broke last year that it had misreported TV results to clients, with GroupM subsequenly calling in Ernst & Young to audit the business.
The audit unveiled that along with misreporting of TV campaign results, that MediaCom had engaged in so-called 'value banking' of inventory, with savings not passed onto clients.
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