Jeremy Philips, the CEO who brought Photon Group back from the brink is to leave the company.
In an announcement to the ASX, the company said that Philips would work with the board to achieve a smooth transition to a new leadership.
Philips – who joined the company after working for News Corp in the US – oversaw a recapitalisation and sale of many of the group’s companies as debt threatened to overwhelm it.
Despite being a much smaller group – whose agencies include BMF, BWM and Naked Communications – Photon now appears to be back on firmer ground.
In the ASX statement Philip said :”Now is an ideal time for me to hand over to someone else.”