Aegis Group appoints Buhlmann CEO and reports 22% pre-tax profit drop
Aegis, the marketing services group, has appointed Jerry Buhlmann as its new chief executive at the same time as it announced a 22 per cent fall in pre-tax profit to $247.4m (£149.3m) for the year ending 2009.
Buhlmann, currently CEO of its media-buying division Aegis Media which includes Carat, Isobar and Vizeum, will take over from interim chief executive and chairman John Napier on May 1.
Napier has been in the interim role since the departure of Robert Lerwill in November 2008.
The group is also proposing to raise £175m to fund acquisitions.
Across the Asia-Pacific region Aegis Media reported a 4 per cent year-on-year revenue rise to £81m.
Overall, the group said Aegis Media’s digital operations now makes up 31 per cent of its revenues.
In a company statement, Napier said: “Although the winning and retaining of clients is at the core of our business, we are conscious that in the volatile economic climate we have endured in 2009 that is continuing into 2010, there is a risk that our clients’ investment in advertising and research will decrease, which would have an impact on our revenues.”
Tim Burrowes founded Mumbrella in 2008. He worked on Mumbrella until 2021. At various points he was editor, content director and editor-at-large.
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