Peter Mears has been promoted to global chief operating officer, a new position at media agency Initiative, effective Jan. 1.
Kris Magel, who had been chief investment officer, will fill in for Mears as president of Initiative U.S.
Initiative is a big media buying agency and part of IPG’s Mediabrands unit. The promotions of Mears and Magel follow the appointment in September of Nick Childs to the newly created role of global chief creative officer.
Magel’s replacement will be announced in the coming weeks, the agency said.
Mears, who continues to report to Initiative global CEO Jim Elms, had been president of Initiative’s North America office since 2013. He led the office with a slogan of Fast, Brave, Decisive and Simple (FBDS).
“I believe in a unifying culture that drives our people to not only perform to their highest standard, but also to wake up in the morning and genuinely love coming to work. In my new role I aim to make that happen on a global scale for the agency,” Mears said.
Magel has been Initiative’s chief investment officer since 2008. He reports to Mears.
“His strong leadership will give the agency an edge in yielding competitively superior media solutions, while the huge respect he has earned from clients, media partners, and our team in the US ensures we are consolidating a strong and dynamic agency,” Mears said of Magel.