Ken New, chairman of media planning/buying agency New PHD, plans to quit at the year end. His move has triggered a major revamp at the Abbott Mead Vickers BBDO-owned shop, which will rebrand as Partners PHD.

At the same time, AMV will acquire the 50% stake held by Partners BDDH in their joint media venture, MSc, whose managing director, Louise Jones, and managing partner, Daren Rubins join the restructured set up.

New will become a non-executive director of Partners PHD, also retaining the chairman’s role at poster specialist Outdoor Connection

Those close to the scene say that New’s replacement will an insider. Of his departure, New said: “My decision to step down coincides with my being 55 — I thought it was a good time to do it. I just wanted to create space and time to do a few other things.”

News Source: CampaignLive (UK)