Just a year after Sarah Fay took over for David Verklin as CEO of Aegis Media North America, the ad industry veteran is leaving the company and will replaced by Nigel Morris, CEO of Aegis’ Isobar. Fay had been with Aegis for 11 years and held a number of executive posts, including serving as CEO of search marketer Isobar in 2003. She also helped form Carat Interactive in 2001.
As part of the changes at the top, Mark Cranmer, a former CEO of Starcom Mediavest EMEA, will join Aegis Media, taking Morris’ place as Isobar’s CEO of Isobar. Both appointments will take effect immediately. In a statement, Fay said she wanted to stay closer to home in Boston, after almost two years of commuting to New York, to focus on her family. Fay is a widely respected and well-liked ad executive and one of the few CEOs of a major ad company with established experience in interactive.
Even before Verklin announced he was leaving the company in April 2008, Fay was already being groomed for the role. Her departure comes at a particularly difficult time in the agency business. The company has a range of extensive holdings, which she will now hand off to Morris, including all Aegis Media businesses in the US and Canada, including Carat, Vizeum, Aegis Media Canada (Carat Canada, Mindblossom and Genesis Vizeum), Copernicus, Velocity Sports and Entertainment, Vivid Marketing, Posterscope USA (The Brand Experience and Hyperspace) and Isobar agencies Freestyle Interactive, Ammo Marketing, iProspect, Range and Molecular.