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Reid to Become Group CEO at Media Square

November 5 2009

In the UK, marcoms group Media Square (MSQ) is to appoint Iluminas Chairman Peter Reid as Group Chief Executive from 1 January 2010. He joins the Board of MSQ with immediate effect.

Peter ReidReid has been Group Development Director at MSQ for the past two years, during which time his responsibilities have included M&A strategy and the coordination of business development activities across the group. In addition, he is Chairman of MSQ's research consultancy Illuminas. Prior to joining the group, he was a senior member of McKinsey & Co.'s European Telecoms and Media practice.

From 1 January 2010, Executive Chairman Roger Parry will become Non Executive Chairman. When he joined the firm in 2007 to lead a major reorganisation, it was agreed that his position, which encompasses the role of Chairman and CEO, would be re-structured and a new CEO appointed by 2010.

'I am delighted that despite the ravages of the recession the turnaround has gone well and it is now possible to move to the far more conventional situation of a separate Non Executive Chairman and a CEO,' explained Parry. 'Peter Reid has done an outstanding job over the last two years and I am confident he is going to continue to be outstanding in his new role.'

Reid added that although some of the MSG agencies still have relatively poor operating margins, the firm now has a solid base from which to build a 'highly successful and creative group'.

Earlier in the week, three MSQ shareholders requested a general meeting to vote on removing Parry from the firm's Board, and elect three new Directors; two of whom used to run the firm when it was known as Incepta. An MSQ spokesman confirmed that no further comment would be made at this time.

Web sites: www.mediasquare.co.uk and www.illuminas-global.com .

All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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