Faris Yakob Is Out at MDC, KBS+P

Exit follows other top execs this year

Faris Yakob, the chief innovation officer at MDC Partners and its Kirshenbaum Bond Senecal + Partners unit, has not had his contract renewed, sources said.

Yakob, who could not be reached for comment, is the latest senior executive to be out at KBS+P this year. Others have included Dominic Ferro, director of content production; Mick McCabe, chief strategy officer; David Jenkins, chief integration officer; and longtime agency exec Steve Thibodeau, who had been president at KBS+P’s digital unit Dotglu and chief digital officer at KBS+P.

Jonah Bloom, agency director of strategy and co-founder of KBS+P Content Labs who joined the agency in June, assumed McCabe’s position. The other execs are not being replaced and their duties are being redistributed among senior management.

"Lots of people were being paid crazy amounts and the agency hasn't won much [new business]," said one knowledgable source.

Through a rep, the agency issued a statement disputing that assertion.

"KBS+P has experienced significant growth this year, both from new business and organic growth from existing clients. Any recent personnel changes have been a result of the natural evolution of the agency as we look to continuously optimize our business and to build a culture of invention."

The agency declined to identify the marketers associated with that new business and organic growth. 

Former McCann agency executives like Yakob and Jenkins joined KBS+P in April 2010 and October 2009, respectively, following the arrival of McCann Erickson New York president Lori Senecal who was named KBS+P’s president and CEO in August 2009. At the Interpublic agency Yakob had been evp, chief technology strategist while Jenkins had the title of chief of brand growth and innovation.