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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.
WPP chief Cindy Rose is cutting up to 1,000 jobs by the end of the year, adding to the 11K jobs lost since the start of 2025, according to a report in the Financial Times.
WPP CEO Cindy Rose declares her stabilization plan is "firmly on track" as the company reports a 4.7 percent dip in 1H revenues.
FTI Consulting reported a 2.6 percent drop in Q2 strategic communications revenues to $100M, a shortfall largely due to a $7.4M decline in pass-through revenues.
Omnicom CEO John Wren reported a 7.2 percent rise in Q2 “core operations” to $6B and a 6.1 percent spurt on an organic basis.
Publicis Groupe’s H1 net revenues inched ahead by 1.1 percent to $8.3B. Organic growth hit the 4.7 percent mark.
