Beaven takes global helm at Initiative as Gerster retires
LONDON - Alec Gerster, Initiative's worldwide chief executive and chairman, is to retire on March 1 and will be succeeded by Richard Beaven, chief executive and chairman of Initiative North America.
Gerster has been in the role since April 2002 when he joined Initiative after a 30-year career at Grey Global Group, most recently as worldwide chief executive of MediaCom.
Beaven joined Initiative in 2006 from MediaVest USA, where he was executive vice-president and managing director.
Earlier in his career, he played a leading role alongside David Connolly in forming Starcom UK out of Leo Burnett's in-house media department and merging it with Motive.
Gerster's record and succession planning were applauded by Michael Roth, chief executive and chairman of its parent company Interpublic.
Roth said: "Alec successfully steered Initiative through a period of unprecedented change in the media industry.
"He also succeeded in a task that challenges many chief executives -- finding an outstanding successor who is qualified as a practitioner and a leader to take a company forward."
Under Beaven, Initiative North America recently won a number of major media accounts including the $800m Hyundai/Kai business and the $150m Cadbury Schweppes business, following Bayer and Coors in 2007.
Latest jobs Jobs web feed
- Junior Account Director / Account Director - Fabulous Global Agency - Central London - to £47k Fill Recruitment Ltd to £47k, Central London
- business director > TOP LONDON AGENCY > ATL collectivo Up to £90,000 + great benefits, London
- ACCOUNT MANAGER | Integrated Agency | Confectionery | up to £30k Judi Patton up to £30k, London
- ACCOUNT DIRECTOR - Creative London Agency - MOBILE/Social Media - £40-47k Judi Patton £40-47k, London
- Senior Marketing Co-ordinator Direct Recruitment £30,000 - £35,000, London
- Account Manager - Brand and Advertising Better Placed Recruitment £25000 - £28000 per annum, Manchester