Havas Group PR and experiential agency Havas Formula has promoted presidents Tara Reid and Adrienne Cadena to CEOs. Reid takes over the firm’s PR business (Havas Formula), and Cadena leads its experiential business (Havas Street).   

Founder and CEO Michael Olguin is stepping into the role of chairman.  

Both Reid and Cadena have been with the agency for 15-plus years. In there new roles they will work together but maintain independent responsibilities.   

The the agency said that the CEO announcement anchors a succession plan to ensure Havas Formula’s growth and expansion going forward. In addition to the new CEOs, the agency has expanded its Executive Leadership Team (ELT) to include Alexis Anderson, who takes over as president of Havas Formula Midwest; John Marchini, who steps into the role of president of Havas Street; and Katie Lippman, who becomes president of Havas Formula East.   

Jarrod Walpert, who previously held that role, moves into the newly created chief creative officer role. Emily Porter remains president of Havas Formula West and adds the title of chief marketing officer, also a new role for the agency.   

As chairman, Olguin will focus on agency new business, future planning and serve as a global liaison within Havas.      

Olguin founded Formula in 1992 and the firm was acquired by Havas in 2014. Last year it had its “best year ever,” achieving double-digit revenue growth.