Ray Day Assumes Role of Executive Chairman at Allison Worldwide; Co-Founders Scott Allison and Andy Hardie-Brown Stepping Down
Rhea-AI Summary
Allison Worldwide announces leadership changes as Ray Day becomes executive chairman while continuing as Stagwell vice chair. Co-founders Scott Allison and Andy Hardie-Brown are stepping down to advisory roles after 23 years. The agency, which rebranded from Allison+Partners in 2023, has evolved from a PR firm to a global integrated marketing network with 52 offices. Jonathan Heit continues as Global CEO, reporting to Day. The transition marks a new chapter for the company, with Day bringing over three decades of experience from leadership roles at IBM and Ford Motor Company.
Positive
- Global presence with 52 offices across five continents
- Successful transformation from PR firm to integrated marketing powerhouse
- Experienced leadership with Ray Day's 30+ years in communications
Negative
- Departure of both founding leaders could impact company stability
- Significant leadership transition may affect client relationships
News Market Reaction – STGW
On the day this news was published, STGW gained 3.05%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Day has more than three decades of experience as a chief communications officer for leading communications teams, brands and agencies, including IBM and Ford Motor Company. He joined Stagwell in 2020.
Allison and Hardie-Brown launched Allison+Partners in September 2001, and the agency re-branded as Allison Worldwide in 2023, underscoring its transformation from its origins as a public relations firm focused on earned media to a modern integrated marketing and communications powerhouse with a global network of 52 offices.
"I believe in a bright future for the agency's next chapter under Ray's leadership. As a results-oriented leader, Ray brings a dynamic approach to business and financial strategies that drive top-and bottom-line growth," said Mark Penn, Chairman and CEO of Stagwell. "I thank Scott and Andy for their two decades of leadership and commend their ability to turn Allison Worldwide into the award-winning agency it is today."
"Our motto has always been to focus on doing great work and hire and retain amazing people," Allison said. "Our model has stood the test of time, and we believe the company will continue to grow and thrive long after we're gone. Andy and I have been very blessed and remain so grateful to our colleagues and clients that have supported us the past 23 years."
Jonathan Heit, one of the original members of the Allison+Partners team, remains Allison Worldwide Global CEO, reporting to Ray Day. Together with its Global Board, Allison Worldwide's next generation of leadership continues to act on a proven blueprint.
"From a concept we scribbled on a napkin in 2001 through an international expansion that began in 2013, Scott and I consider ourselves fortunate to have grown Allison into a global communications powerhouse with a footprint spanning five continents," Hardie-Brown said. "With the incredible depth and passion of so many talented colleagues around the world, we are confident Allison will continue to expand globally, going from strength to strength, and will continue to be a great place to work."
"I am honored to stand on the shoulders of industry giants Scott Allison and Andy Hardie-Brown and excited to begin working even more closely with the Allison Worldwide team to achieve our shared vision of global growth," Day said. "Our priorities for growth are clear: a client-first culture centered on every client's success; future-focused innovation and anticipation; and expanding our capability and expertise with a world-class team delivering world-class results."
About Allison Worldwide
Allison is a global integrated marketing and communications consultancy dedicated to driving growth, innovation, and positive change for clients, colleagues, and communities. With a diverse range of expertise and a forward-looking mindset, Allison delivers game-changing results that make a lasting impact. Allison is owned by Stagwell (NASDAQ: STGW), one of the fastest growing and most influential marketing and communications networks in the world. Agency partners leverage Stagwell's technology, data analytics, insights and strategic consulting solutions to drive measurable results and optimize return on marketing investment for more than 1,700 clients worldwide. Learn more at www.allisonworldwide.com.
About Stagwell
Stagwell is the challenger holding company built to transform marketing. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our 10,000+ specialists in 30+ countries are unified under a single purpose: to drive effectiveness and improve business results for our clients. Join us at www.stagwellglobal.com.
Contact:
Beth Sidhu
PR@stagwellglobal.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/ray-day-assumes-role-of-executive-chairman-at-allison-worldwide-co-founders-scott-allison-and-andy-hardie-brown-stepping-down-302319636.html
SOURCE Stagwell Inc.
FAQ
Who is the new executive chairman of Allison Worldwide?
Why are Scott Allison and Andy Hardie-Brown stepping down from Allison Worldwide?
How many offices does Allison Worldwide have globally?
When did Allison+Partners rebrand to Allison Worldwide?
