BOSTON WPP Group's Burson-Marsteller has confirmed that CEO Thomas Nides is planning to leave the public relations firm and the agency is conducting a search for his successor.
Nides, 44, who is leaving the agency to take a senior executive position at Morgan Stanley, will remain at the global PR firm for an unspecified time.
"In the coming weeks, in order to maintain continuity at Burson-Marsteller, Nides will work closely with Howard Paster, executive vice president of Burson's parent company, WPP, on the transition at Burson and the search for his successor," according to a statement from the firm.
Nides joined Burson in November 2004 [Adweek, Nov. 22, 2004] from New York-based Credit Suisse, where he was global chief administrative officer. Prior to Credit Suisse, Nides served as svp and member of the operating committee at Fannie Mae. Nides' move to B-M marked his first stint at a public relations agency.
The Duluth, Minn., native is returning to Morgan Stanley after working there as a principal in the late 1990s.
John Mack, a former colleague of Nides', last month returned to Morgan Stanley as CEO.