MDC Partners (MDCA) Agency Forsman & Bodenfors Hires Toby Southgate as Global CEO

Rhea-AI Summary

Forsman & Bodenfors has appointed Toby Southgate, former Global Chief Growth Officer at McCann Worldgroup, as its new Global CEO. Collaborating with Global Executive Chairman Anna Qvennerstedt, Southgate aims to enhance the agency’s creative and strategic output amidst its ongoing global expansion. Under his leadership, Forsman & Bodenfors has recently secured significant clients and reported a 20% growth in Asia year-over-year. Southgate succeeds Guy Hayward, who departs to focus on sustainability initiatives.

Positive

• Southgate's extensive experience in global marketing is expected to strengthen leadership.
• Agency's recent client acquisitions indicate growth potential.
• 20% year-over-year growth in Asia reflects positive momentum.

Negative

• Transition to a new CEO may disrupt current operations.

Global Chief Growth Officer of McCann WorldGroup Joins Growing F&B Network as it Doubles Down on Global Ambitions

NEW YORK, May 24, 2021 /PRNewswire/ -- (NASDAQ:MDCA) Forsman & Bodenfors announced today that it has hired McCann Worldgroup's Chief Growth Officer Toby Southgate as Global CEO to work in partnership with Global Executive Chairman and Copywriter Anna Qvennerstedt to lead the world-class creative collective.

"Over the years, Forsman & Bodenfors has shown that world-class creativity thrives in a highly collaborative environment," said Qvennerstedt. "Toby's background and drive matches both our values and our global ambition to deliver creatively and strategically excellent work. I'm excited he agreed to join our team as Global CEO."

"F&B is one of the most award-winning agencies in history, and with Toby and Anna's leadership, it is destined for even greater success," said Mark Penn, Chairman and CEO of MDC Partners. "As we bring MDC together with Stagwell, we're building what marketers need today and tomorrow, and Toby is a proven global leader with a track record of collaboration for the benefit of clients. This team will take F&B's world-class creative excellence and distinctive culture to the next level."

Over the course of his career, Southgate has worked extensively across North America, Europe, the Middle East and Asia. In addition to his most recent role as Global Chief Growth Officer at McCann WorldGroup, he also served as the company's Regional Director and Chief Client Officer across Europe & UK, and was closely involved in many of Worldgroup's most significant organic growth and new business activities with clients including eBay, L'Oréal, The Coca-Cola Company, RB, Nestlé and Just Eat Takeaway.

Before joining Worldgroup, Toby spent 10 years at WPP's brand consulting unit, Brand Union, ultimately becoming WPP's youngest network CEO while leading Brand Union to its first major successes at Cannes and the Effies. Working across the group, Toby helped construct and launch integrated teams for clients including Vodafone, Dell, DuPont, Bank of America, Shell, GSK and IAG.

"F&B is one of the most acclaimed creative businesses in the world", said Southgate, "I've admired them for a very long time and I'm immensely proud to join Anna and the team. Marketers need creative thinking more than ever – they're looking for bold answers that drive growth and make change – and so the whole ethos of F&B has never been more relevant.  With the backing of MDC, which is positioned for where the world is going, we have the opportunity to leave our mark on more than just the advertising industry."

Southgate's appointment comes on the heels of significant momentum for the F&B network, which has teams in Gothenburg, New York, Stockholm, Toronto, Montreal, Shanghai and Singapore. In the last six months, the agency has won clients including Carter, Tretorn, Ontario Lottery, Viking Cruises, Visit Sweden and the Swedish Lottery, among others. This client success coincides with continued global expansion, including 20% year-over-year growth in Asia as an increasing number of F&B's European clients have engaged the agency for their efforts in the region. Meanwhile, earlier this year, the agency named Johan Eghammer CEO of F&B Sweden and brought additional creative heft to its New York office by naming Emma Eriksson from F&B's Stockholm office its new co-head of creative, alongside Matt Creamer.

Southgate assumes the role previously held by Guy Hayward, who stated "F&B is a unique agency with wonderful people and clients. It is poised for great things globally. Next, my focus will be on helping brands contribute to saving the planet."

"I am immensely thankful to Guy for all he has done for F&B. Together, we've united our global teams around a common purpose, culture and way of working, providing a springboard for our next chapter. I wish him all the best," added Qvennerstedt.

About Forsman & Bodenfors
Forsman & Bodenfors is a global creative collective working to unlock the power of creativity through collaboration in order to build the most human and iconic brands and businesses in the world. Forsman & Bodenfors' client roster includes Volvo, P&G, Google, Goldman Sachs, Diageo, LG, General Mills, YouTube, Jaeger-LeCoultre, iRobot, and H&M, among others. In 2018, Fast Company named the agency one of the most innovative companies in the world while Ad Age named it one of its agencies to watch in 2019. Forsman & Bodenfors has over 700 team members across seven offices in Gothenburg, New York, Stockholm, Toronto, Montréal, Shanghai, and Singapore. To learn more about Forsman & Bodenfors, please visit forsman.co.

About MDC Partners
MDC Partners is one of the most influential marketing and communications networks in the world. As "The Place Where Great Talent Lives," MDC Partners is celebrated for its innovative advertising, public relations, branding, digital, social and event marketing agency partners, which are responsible for some of the most memorable and effective campaigns for the world's most respected brands. By leveraging technology, data analytics, insights and strategic consulting solutions, MDC Partners drives creative excellence, business growth and measurable return on marketing investment for over 1,700 clients worldwide. For more information about MDC Partners and its partner firms, visit our website at mdc-partners.com, sign up for investor-related updates and alerts, and follow us on LinkedIn.

 

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SOURCE MDC Partners Inc.

FAQ

Who is the new CEO of Forsman & Bodenfors?

Toby Southgate has been appointed as the new Global CEO.

What is the significance of Toby Southgate's appointment for MDCA?

Southgate's appointment is expected to enhance Forsman & Bodenfors' creative strategy and expand its global presence.

What growth did Forsman & Bodenfors experience recently?

The agency reported a 20% year-over-year growth in Asia.

What clients has Forsman & Bodenfors recently acquired?

Recently acquired clients include Carter, Tretorn, Ontario Lottery, Viking Cruises, Visit Sweden, and the Swedish Lottery.

What was Guy Hayward's role before Toby Southgate?

Guy Hayward served as the CEO of Forsman & Bodenfors before Southgate's appointment.