Dentsu Aegis Network’s Stef Calcraft has stepped down from his role as executive chairman of the U.K. and Ireland after only one year.
Dentsu said in a statement that Calcraft—the co-founder of creative agency Mother who took on his position at the holding company at the start of 2018—will be replaced by Nick Waters, who will transition from his role as CEO of Asia Pacific. Takaki Hibino, previously global brand president, will become executive chairman of the APAC region, reporting to Tim Andree, Dentsu executive chairman and recently appointed CEO.
“We thank Stef for his contribution,” said Giulio Malegori, Dentsu Aegis Network CEO, EMEA, “he leaves the UK business on a strong footing, with a dynamic new leadership team in place.”
Malegori did not say what led Calcraft and Dentsu to part ways.
On Waters, Malegori continued, “Nick has a strong track record of successfully leading a complex, diverse region for Dentsu and will help to set up the U.K. business for the future providing continuity for our clients, our people and the business.”
Waters has been serving as the CEO of APAC for nine years and is credited for integrating digital, media and creative in that region.