Nigel Morris, CEO of Aegis Media Americas, will take on the added responsibility of overseeing Aegis’ Europe, Middle East and Africa region, the holding company confirmed Wednesday.
Simon Francis, CEO of the company’s EMEA region, “is to leave Aegis Media with immediate effect,” the company stated in a tersely worded release. The company added that Francis’ departure was a “mutual” decision.
An Aegis rep said the company wouldn’t comment further. But recent financial results may help explain the move.
In 2011 the company’s America’s region, run by Morris, posted organic revenue growth -- which excludes the impact of acquisitions and currency fluctuations -- of nearly 18%. EMEA meanwhile, posted organic growth of just over 5%.
“Following an excellent performance in 2010, our North American business consolidated its position in the market with an outstanding year in 2011, winning a number of major new clients, including The Home Depot, Disney Parks & Resorts, Target and Sears,” the company stated at the time it released full-year 2011 results. Company comments about EMEA focused on “tough market conditions” and “challenges.”
Results for EMEA in the first quarter of 2012 deteriorated further, with the region posting less than 2% organic revenue growth. By comparison, organic growth in the Americas region exceeded 20%.
Morris was named CEO of Aegis Media Americas in 2011. Previously, he was CEO of Aegis Media North America, a post he was promoted to in May of 2009. Before that, he was founder and CEO of Aegis digital agency Isobar.