Fresh off a major account win, IPG Mediabrands agency Initiative has named a new global chief executive.
Initiative U.S. CEO Amy Armstrong will succeed Mat Baxter in the global CEO role. Baxter will move into a global chairman role, which he will remain in through the end of 2021. He will also take on an additional senior role for IPG, which the company plans to announce in the months ahead.
Armstrong has held leadership roles at various IPG agencies over the course of the past two decades and joined Initiative as U.S. CEO in 2016. Since her arrival, she worked alongside Baxter to lead a comeback for Initiative from what Baxter described as a “basket case” to a formidable industry leader.
“Mat has transformed Initiative into a global trailblazer as CEO, and while he will be missed at Mediabrands when he moves on at the end of this year, he leaves the agency in great hands,” IPG Mediabrands CEO Daryl Lee said in a statement. “Amy is a fearless competitor and a true client partner who has built an agency to be reckoned with in the U.S.”
Armstrong helped build up the agency’s U.S. operations through organic growth and a number of new business wins, including Gilead, Liberty Mutual, Nintendo and, most recently, T-Mobile’s decision to appoint Initiative as U.S. media agency of record. In 2018, her leadership helped the agency go from a 3.6% revenue decline to 11% growth en route to Initiative being named Adweek’s U.S. Media Agency of the Year.
Armstrong has also played an instrumental role in evolving Initiative’s DEI practices in the U.S., including an overhaul of the agency’s recruiting practice in service of neutralizing bias. Under her leadership, diversity has increased throughout U.S. operations, according to Initiative.
In a statement, Philippe Krakowsky, who succeeded Michael Roth as IPG CEO at the start of 2021, said that Baxter brought a “strategic lens” and a “focus on culture and creativity” to Initiative during his tenure. This led to a transformation, making Initiative one of the fastest-growing entities and top media agency networks for global new business momentum within IPG.
“Mat has the ability to attract and develop top talent, and under his leadership, the Initiative team has seen significant evolution, with clients turning to the network for advice and solutions across a broader range of marketing challenges. We’re excited to have him look at other areas of our portfolio that he can help transform and elevate,” Krakowsky continued.
