Long-time Universal McCann finance chief Jeff Lupinacci has been named CFO of Mediabrands North America, and Initiative USA's finance chief Greg Walsh has been named head of client finance for Mediabrands North America.
In a related move, Larry Diamond has joined Mediabrands North America as head of financial operations from Martha Stewart Living Omnimedia.
In a memo to the Mediabrands organization, Comonte said Walsh and Diamond would report to Lupinacci, who would report to her.
The reorganization is interesting for several reasons. One is that it continues the roll-up and centralization of Interpublic's media management team into Mediabrands and out of the individual operating units. Two is that Comonte is seen as a key candidate to ultimately assume the CEO role at Mediabrands that was recently vacated by Nick Brien, who took the top role at Interpublic's McCann WorldGroup.
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