- Steve McClellan

NEW YORK The hyperactive media agency executive shuffle that began last year with the departure of seven CEOs from the top 14 agencies continues apace. Just four months into 2008, two more CEOs are gone.

The most recent departure came last week with word that David Verklin, CEO of Carat parent Aegis Media Americas, was exiting after 10 years at the shop and 30 years in the business. In March, Initiative worldwide CEO Alec Gerster left the agency.

In another significant move last Friday, OMD snagged Alan Cohen from Interpublic Group's Initiative, appointing him to the new post of U.S. CEO of the Omnicom-owned agency, reporting to North American CEO Page Thompson.

Cohen's appointment came less than three months after Initiative promoted him to president of Initiative West and Innovation, reporting to Tim Spengler, who was promoted at the same time from his position as chief activation officer to president of Initiative USA.

Cohen, 52, has a reputation as a true media innovator, said OMD's Thompson. "His impressive track record of winning over clients with breakthrough ideas is a perfect fit with OMD," he said.

Meanwhile, buzz had circulated for months that Verklin was looking to exit Aegis -- which has struggled recently on the new business front, losing Hyundai/Kia's $800 million account, among others -- and was looking for a new line of work. Indeed, both Verklin and his boss, Aegis Media CEO Mainardo de Nardis, said the transition was in the works for months and insisted it was "very amicable," as de Nardis put it.

Verklin, 52, said he started thinking about leaving a year ago but wanted to time the departure to his tenth anniversary this year on April 20. (The announcement came on the 21st.) Verklin said it was "very unlikely" he would return to the agency business. He declined to comment on word that he is considering heading up a new cable VOD consortium called Project Canoe. He did say he's going to take some time off to mull his options. At Aegis, he is being replaced by Carat USA president Sarah Fay, who was named CEO of Aegis North America.

Former Initiative worldwide CEO Gerster, who left the shop two months ago, last week landed outside the business as chief marketing officer of interactive TV company Navic.

And Bill Cella, who left IPG's Magna Global as CEO in December, has formed his own media consultancy, The Cella Group.