MSQ, the London-founded marketing group, has hired James Townsend from Stagwell as its new group chief executive. He succeeds co-founder Peter Reid, who moves up to chairman after leading the business since it was set up more than 15 years ago, as Decision Marketing reported.
Who is James Townsend
Townsend was most recently chief executive of Stagwell in Europe, the Middle East and Africa, and global chief executive of Stagwell’s Brand Performance Network, a group of performance marketing agencies across North America, Europe and Asia-Pacific. At MSQ he will run the business day to day and lead its global growth, with Reid focusing on strategy.
Reid said Townsend brings “the energy, experience and vision that we need to accelerate the next chapter of growth”. Townsend said he had “admired what Peter and the team have built”.
What MSQ is
MSQ is one of the larger independent marketing groups to come out of the UK, with around 2,000 people in 25 offices. It has made seven acquisitions in the US, Germany and the UK over the past three years, most recently adding a US media business, and launched MSQ Intelligence, a central team for products, data and platforms.
Why it matters
Hiring a Stagwell performance boss to run the group says where MSQ thinks growth is: data, media and measurable performance, delivered across borders. That is the same direction the big holding companies are going, at a time when WPP is losing VML’s long-time chief and Publicis is winning on data. The mid-sized groups are trying to offer the same breadth without the bureaucracy. For how the industry fits together, see our guide to the holding companies.