IPG Mediabrands' Mark Coad, Leigh Terry, Lucy Formosa Morgan Exit as Omnicom Acquisition Takes Effect

Key IPG Mediabrands leadership including APAC CEO Leigh Terry, Australia CEO Mark Coad, and Magna managing director Lucy Formosa Morgan have exited the business as Omnicom's acquisition of IPG takes effect.

Leigh and Mark spent many years growing Omnicom's media agencies before making the switch to IPG. In 2017, Leigh shifted from OMG, where he was CEO, to the IPG regional role to lead 3,000 people across Mediabrands' 13 Asia Pacific markets. He was followed by close colleague and friend Mark in 2020. After almost two decades within Omnicom, leading OMD, PHD, and Clemenger Harvie Edge, Mark took up the local leadership mantle, and ran a portfolio that includes Initiative, UM, and Magna. 

Lucy became Magna MD in 2022 after a media owner-side stint at NOVA as commercial operations director, and 10 years at PHD, where she was MD and chief investment officer alongside Mark.

"With the merger of IPG Mediabrands into Omnicom, I’ll now be leaving the business, but not the industry," Leigh wrote on LinkedIn of his departure.

"I want to thank our people, clients and partners for a chapter I’m incredibly proud of. Leading this team has been a privilege, and I’m grateful for the trust and support shown throughout my time here. I’ll be taking some time out before considering my next chapter, and I leave with deep appreciation for the work we’ve done together."

Mark added, "It has been a big news week which marks the end of an incredible chapter. I've enjoyed my (nearly) 6 years at Mediabrands and I deeply appreciate the support of the industry and the wonderful team of people I’ve had the privilege to lead.

"I'm looking forward to cooling my jets over summer and planning my next chapter. I've had an outpouring of messages of support that I'm genuinely grateful for -- from clients, media partners, industry friends and the teams I worked with. I am looking forward to connecting with you all. We are part of a great industry that I’ve always been immensely proud of and I'm not done with it yet!"

Omnicom and Lucy were contacted for comment.

The newly-rebadged Omnicom Media (formerly Omnicom Media Group) is led locally by Kristiaan Kroon, who took over following Peter Horgan's departure earlier this year and was this week confirmed as CEO. His predecessor, Peter, is now running full service indie agency JOY.

Yesterday, Nick Garrett revealed the first wave of his plans for the first-of-its-kind Omnicom Oceania structure, which unites the market's media, creative, PR, performance, and production capabilities under one leader. 

All media brands will remain distinct businesses, but the creative arm will experience sweeping changes.

In response to Omnicom retiring the DDB, FCB, and MullenLowe brands globally, Omnicom Oceania will roll DDB Australia into Clemenger BBDO; install DDB's Sydney and Melbourne CEOs as co-CEOs of Clemenger; move Lee Leggett into a chief customer officer role at an Omnicom Oceania level; merge DDB New Zealand and FCB New Zealand to form McCann New Zealand, to be run by Priya Patel and Paul Wilson; and create McCann Wellington from Clemenger and FCB in the smaller Kiwi market.

Globally, Florian Adamski will continue as CEO of Omnicom Media, including Hearts & Science, Initiative, Mediahub, OMD, PHD, and UM, as well as Acxiom. 

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Read more: Nick Garrett’s Job Is to Turn “Disjointed Jigsaw Puzzle” Into “A Masterpiece”