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Paul Brooks resigns as CEO of Carat

The CEO of one of Australia’s largest media agencies, Carat, has resigned, effective immediately.

Paul Brooks’ resignation comes after the agency lost a series of key clients, including the $20m Amart account and Mondelēz International, worth around $40m.

Brooks: Leaving Carat

Disney’s $19.4m media account had also previously sat directly with the agency, but has now shifted to a bespoke model comprised of resources from across the Dentsu Aegis Network.

Last year, music streaming service Pandora appointed Carat in March, but by June, it announced it was closing down.

The agency has had some wins to counter-balance the losses, securing the $10m Beacon Lighting account in March, the Event Hospitality and Entertainment account in February, and most recently becoming the media agency of record for Grill’d.

In the recent RECMA ranking, Carat placed second behind Omnicom Media Group’s OMD for activity volume, with a 13.8% share of industry activity, valued at $1.668bn.

The figures were based on 2017 and did not include the loss of the Mondelēz International account.

A Denstu Aegis Network spokesperson said Brooks’ replacement would be announced imminently, while CEO of the group, Simon Ryan, said: “We would like to thank Paul for his commitment and service over the past five years and wish him all the best for the future.”

Brooks added: “I would like to thank Dentsu Aegis Network and Simon Ryan for the opportunities and roles that have presented in my time here and I wish them all the best in the future. I believe now is the right time for me to pursue new opportunities and take some time off to consider my next move.”

Brooks took on the CEO role in 2016 after Ryan was promoted to be CEO of Carat’s holding company, Dentsu Aegis Network.

He had previously been managing director of Dentsu Aegis Network’s media investment arm, Amplifi, and chief investment officer of Carat.

Before his time with Dentsu Aegis Network, he was CIO at Group M’s Mediacom.

Until a permanent replacement is confirmed, the remaining Carat executive team will take responsibility for business strategy and direction, reporting to Ryan.

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