Stagwell has shuffled duties among some of its top executives including the appointment of Ryan Greene as Chief Financial Officer. Greene was previously Chief Operating Officer and succeeds Frank Lanuto in the CFO role. Lanuto is shifting to the position of executive vice president, finance.  

For now, the company is not looking for a new COO with Greene moving to the CFO position.  

Also, Jason Reid was named Chief Strategy Officer, a new role at the corporate level. Reid previously led the company’s M&A activities, which will now be overseen by Niels Lauberg as Chief Investment Officer. He was previously Reid’s top lieutenant in the M&A practice.  

All four executives will report to Stagwell Chairman and CEO Mark Penn in their new roles and be part of the Senior Leadership Committee.  

"These moves strategically advance our executive team and are aimed at building the most effective, efficient and forward-looking leadership group to tackle the industry’s behemoths head on,” stated Penn. “Ryan, Frank, Jason and Niels have each demonstrated strong leadership and contributed to efficiency gains over years of service to Stagwell, and we believe this change will help us achieve our 5x5 plan: $5 billion in revenue in the next 5 years.”  

Penn credited Greene with spearheading the plan that has saved the company $65 million in cost synergies since 2021. He’ll now lead the effort to save another $80 million to $100 million in AI-led efficiencies announced at the firm’s “Investor Day” earlier this year. That was also when the firm announced its $5 million revenue target.