NEW YORK: Media agency conglomerate Aegis Group has announced its Americas ceo, David Verklin (pictured), is to step down after ten years with the company.

The UK-headquartered group has been careful not to connect his departure with loss of several major accounts by the Carat US unit, including media-buying duties for Time Warner's New Line Cinema and the Hyundai Motor media business.

Verklin insists: "It has been a fantastic 10 years, but at some point, it was a great time to transition and to pass the baton."

That baton will been taken up by Sarah Fay -  currently ceo of Carat US and Aegis stablemate, Isobar - who will take on North America duties.

Responsibility for Latin America will move to Mainardo de Nardis, ceo of Aegis Media Global.

Although, his future plans are unconfirmed, it is rumored that Verklin is to head Project Canoe, a venture by the six biggest US cable firms to allow national advertisers to buy customized and interactive advertising across their systems.

Data sourced from Adweek (USA); additional content by WARC staff