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Mark PennMark Penn has assumed the helm of MDC Partners as his Stagwell Group agrees to pump a $100M equity infusion into the financially strapped ad/PR company.
With the investment, MDC has called off its strategic review and search for a CEO.
Irwin Simon, MDC's presiding director, called Penn "a strategic operator" who "as a marketer, agency founder, global thought leader and investor will be critical to bolstering our structure, solutions and services."
Before launching Stagwell, Penn was executive VP/chief strategy officer at Microsoft, CEO of Burson-Marsteller, co-founder of Penn Schoen Berland, and pollster/advisor for Bill and Hillary Clinton, Tony Blair, Bill Ford and Bill Gates.
He called MDC a place brimming with "some of the world’s best creative and strategic talent; strategists with a deep understanding of the way technology and media solutions address the needs of today’s modern marketer."
MDC's PR firms include Hunter, Allison+Partners, KWT Global and Sloane & Co.
Stagwell's investment roster include Finn Partners and SKDKnickerbocker.
Publicis Groupe’s H1 net revenues inched ahead by 1.1 percent to $8.3B. Organic growth hit the 4.7 percent mark.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
Institutional Shareholder Services advises investors to vote "no" on a compensation package for WPP chief Cindy Rose at the May 8 annual meeting.
FTI Consulting chalked up a 9.5 percent rise in Q1 revenues to $983.3M, powered by gains in its PR, corporate finance and technology segments.
Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
