Carat executive Michael Epstein is now the media network's U.S. president and will also maintain his current responsibilities as chief client officer.
Epstein's new job had previously been handled by Carat USA chief Doug Ray, who had been global president at the Dentsu Aegis unit. In January, it shifted those duties to London-based Will Swayne, the agency's global client president for Procter & Gamble. The company said it made the change because of Carat's "continued double-digit growth" in the U.S., where Ray needs to focus on his role as CEO.
Epstein has made a fast move up the corporate ladder since joining Carat in 2013. He was hired as the agency's first chief strategy officer, a job in which he launched the agency's Catalyst innovation group. That initiative, which pairs communications strategists with media technologists, weighed into Adweek's decision to name the shop 2015 U.S. Media Agency of the Year.
In leading agency strategy, Epstein also contributed to Carat's new-business performance, helping to bring in clients like Dannon and MasterCard. When Adweek named Epstein a Media All-Star last year, his contributions to business development were noted, with Carat reporting a 13 percent jump in revenue and a gain of more than $700 million in billings during his first two years at the agency.
Since 2014 Epstein has been Carat's chief client officer, handling all of Carat's marketers including companies like Pfizer, Disney, Red Bull, Home Depot and Macy's.
"Michael has shown an unparalleled ability to not only drive our product agenda, but do so with our clients' business interests front and center. This has made him a trusted partner for our internal teams and clients alike," said Ray.
Prior to joining Carat, Epstein was president, strategic resource and client services at Mindshare, where he was responsible for overseeing all digital media services for North America, new business, multicultural efforts and promotions, and key client relationships.