CEO of Enero Group, Matthew Melhuish, to step down
Matthew Melhuish, CEO of Enero Group, is stepping down from his role after eight years at the helm, and 23 years after founding its creative agency BMF.
Melhuish will stay with the company until 31 March 2020, as new chair Ann Sherry takes up her role and begins the recruitment process for his successor.
Enero CEO Matthew Melhuish is stepping down from the role in March 2020
Melhuish said the decision to step down was a difficult one, but said the business’ new strategy made it the right time to hand over the reins to someone else.
“This has been a very hard decision for me to take after so many years, but the time feels right for me to hand over to someone else to take the business to the next stage under the new strategy announced at our recent AGM. There’s never a perfect time to do these things, but now seems as right as it ever will and I would like to build myself more of a portfolio life and bring some of the lessons I have learned from renewing Enero to other businesses and industries,” Melhuish said.
“It’s been a great ride and I have loved my time here, but it’s time to move on and I remain a committed shareholder.”
Melhuish was named as CEO of Photon Group in 2012, six months prior to it becoming Enero. In 2015, it was announced that Melhuish had extended his contract for another four years. His agency, BMF, was acquired by Photon Group in 2007.
Enero chair, John Porter, thanked Melhuish for his work with the group, and credited him with transforming a “highly fragmented collection of agencies to a streamlined group”.
“After a hugely successful eight-year tenure with Enero, initially as one of the owners of subsidiary creative agency BMF which was acquired by the Group in 2007 and subsequently as Enero Group CEO from 2012, Matthew has decided to resign to pursue other opportunities,” Porter said.
“Under his leadership, the Group has gone from strength to strength and transformed from a highly fragmented collection of agencies to a streamlined Group providing complimentary services at the highest standard. We now have some of the best brands in PR, creative, digital and media services doing some of the best work in the industry in some of the most exciting markets in the world.
“We would like to thank Matthew for all he has done for the Group and wish him well for the future.”
When Melhuish came into the CEO role, he announced plans to simplify the structure of Photon Group, making it centred on its five main business units – BMF, Naked, Hotwire, Frank PR and research company The Leading Edge. The name change to Enero was also announced at the time to distance the group from its Photon origins.
In February 2018, Enero announced plans to acquire creative agency Orchard Marketing for a price cap of $27 million. The group has also seen a change in its agency structure this year, with Naked merging into BMF, and comms agency Precinct absorbed into Hotwire.
For FY19, Enero posted a 25% increase in net revenue, and a 53% jump in earnings before interest, tax, depreciation and amortisation (EBITDA). It also attributed a 24.5% increase in net revenue in Australia to its acquisition of Orchard.
Commenting on Melhuish’ successor, Porter said there would be no interruption in client service.
“We have begun the search for Matthew’s replacement who will be joining a successful Group of brilliant businesses with real momentum. New chair Ann Sherry, who takes over from me on 1 January 2020, will lead this process, initially with the help of Matthew,” Porter said.
“There will be no interruption of client service and the Group has continued to trade well and in line with the prior reporting period.”
Good luck Matt.
You helped start a great agency and chose to fix the problems facing Enero rather than walk away from them. That Ali e reminds us all that you’re much more than than a great ad man.
Well done and good luck.
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Always a tough guy to please
But makes you better
What a great legacy he leaves
And whilst I hear Hotwire and Orchard do well, what a powerhouse in BMF did he create with Warren Brown
Well down Matt
You helped make the industry rise
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Wow well done. Is he leaving BMF as well?
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