Digital media management company Traffiq CEO Nick Pahade has been named president and CEO of Initiative North America.
The digital executive takes over for Tim Spengler, who became global CEO of corporate sibling Interpublic’s MagnaGlobal earlier this month. The appointment is the latest change at Initiative—the media company’s CEO, Richard Beaven, said he would step down at the end of this year, and Jim Hytner, head of IPG’s Universal McCann’s global G-14 operations, was named his successor. Pahade will report to Hynter.
Pahade is a former president of Publicis Groupe’s Denuo digital and futures practice and is also the founder of the digital agency Beyond Interactive, created in 1995 and sold to WPP Group’s Grey Global Group in 1998. It has since become MediaCom Interaction.
At Initiative, Pahade will oversee U.S. and Canadian billings of $5.7 billion with a client roster that includes Hyundai Kia, Dr Pepper Snapple Group, Lionsgate, MillerCoors, USAA, Hasbro, Merck, Nikon, Intuit, Arby’s, Victoria’s Secret, Petco, Vizio and Best Western.
Last year was a tough year for Initiative, which lost an estimated $300 million in Bayer U.S. billings to WPP’s MediaCom unit and Home Depot’s $420 million in spending, which shifted to Aegis Group’s Carat unit.
In the positive column, Initiative won the $150 million Hasbro media-buying and -planning business, and USAA, LifeLock and Petco.