Media Square Non-exec Chairman to Step Down

Roger Parry, the non-executive Chairman of UK-based marcoms group Media Square - which owns market research agency Illuminas - has announced plans to step down from the role, after the firm's AGM in July.

Before joining the group, Parry was Chairman and CEO of the international division of Clear Channel Communications. Prior to this, he held director-level roles at a number of media and ad companies including Aegis. He began his career working for Saatchi & Saatchi, was then a journalist for the BBC, LBC and ITV, and after that, he worked as a consultant with McKinsey and Company.

Parry is currently a media investor and Chairman of four companies, including YouGov.

He was appointed Executive Chairman of Media Square in 2007, to lead an emergency turnaround of the group, which had faced problems following a series of acquisitions that resulted in a loss of more than £20m.

He subsequently implemented a three year programme to reduce the group's complexity, cut costs and bring down debt. As a result, Media Square now operates 10 main agencies compared to its more than 40 business units in 2007.

Last November, the Board announced the appointment of Iluminas Chairman Peter Reid as Media Square CEO, which allowed Parry to move into a non-executive role.

'I am delighted by the success of the turnaround - we now have a new management team in place and the business is stable and much simpler,' said Roger Parry. 'The restructuring has now been completed and I have every confidence that under the leadership of Peter Reid the business has a bright future.'

Media Square said in a statement that it is currently conducting a search for Parry's successor.

Web site: www.mediasquare.co.uk .