STAGWELL INC. Townsend retains global leadership of Stagwell's Brand Performance Network, of which Assembly is a member agency
NEW YORK and LONDON, Dec. 7, 2023 /PRNewswire/ -- Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, has shared its plans for continued global expansion today, announcing a global hub in London and the appointment of James Townsend as the company's inaugural CEO of EMEA. Stagwell's London office, set to open in late January 2024 within the Blue Fin Building in South Bank, will serve as the collaborative hub for more than 750 of the 1900 employees in the region.
The announcement follows Stagwell's Q3 earnings, which showed the company's EMEA operations played a pivotal role in sustaining its 25% overall international revenue, with 30% of that attributable to the region. With further growth and a strong period of M&A action slated, James Townsend, currently the global CEO of Assembly and Stagwell's Brand Performance Network, will assume the role of CEO at Stagwell EMEA, effective 1 January 2024. In the position, Townsend will support the growth of Stagwell's 16 agency brands in the region. At the same time, he will continue to lead Stagwell's Brand Performance Network, a group of leading creative, media, and commerce agencies offering connected solutions to marketers.
"We've taken steps over the past few years to expand and grow our operation across EMEA, and we're pleased to accelerate our investment in the region with James Townsend at the helm. From the start, JT has been an invaluable network leader, overseeing the combination of ForwardPMX into Assembly, and then the launch and market success of our Brand Performance Network, which has more than doubled under his leadership," said Mark Penn, Chairman and CEO, Stagwell.
"After five extraordinary years in New York, I look forward to returning to London and supporting Stagwell's EMEA expansion. Throughout the region, we see that clients are seeking strategic partners to support their transformation and growth agendas. With collective capabilities spanning consumer research, media, data, technology, creative, and digital transformation, Stagwell presents a modern alternative to legacy holding companies," said James Townsend.
Stagwell's new London office will see the agency collective share the same floor space, something Townsend says reflects the company's strategy of connected solutions. As part of this transition, James Townsend will be stepping down from his role at Assembly, with Rick Acampora, currently Chief Operating Officer, taking over as Global CEO effective immediately.
"Rick has brought a focus on client centricity and led the innovation of both our organizational design and our tech stack. His role in our new business wins such as Lenovo, T. Rowe Price, Brooks Running, Estée Lauder Companies and Mandarin Oriental has been pivotal and he has been a key catalyst for our strong performance in recent years. He's been a great partner to me and I wish him and the whole team all the success as they change and grow into the future," said James Townsend.
About Stagwell
Stagwell (NASDAQ: STGW) is the challenger network built to transform marketing. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our 13,000+ specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.
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SOURCE Stagwell Inc.
