As part of the restructuring drive underway at IPG group company Lowe, media arm Initiative Media has seen a reshuffling of portfolios, with Lynn de Souza stepping in to head the 'conventional media business' including steering Millennium Media (the second media arm of Lowe), Media Futures and Lowe Healthcare apart from flagship, Initiative Media.
According an internal communiqué, incumbent president Ashish Bhasin, "who has built the media services function with great success into the most competent and diversified media offering", will move to head the Integrated Communications Businesses which includes Lowe Personal (CRM/direct marketing), Linterland (rural communications), Lintertainment (entertainment consultancy), LinOpinion (public relations), Advent (events marketing), dCell (design consultancy), and Aaren Initiative (outdoor). His move as director, integrated marketing communications, will be effective March 1, 2003.
Bhasin's movement, say insiders, should be seen as 'another feather in his cap'. He has been credited with spearheading mainline media at Initiative besides championing the cause of allied functions such as rural and Internet. Under his tutelage, Initiative attained a billing of Rs 1,000-crore with prestigious clients include Bajaj Auto, Britannia, Maruti, LG, Eveready, Reynolds, ITC and HSBC, all of whom came on board during his tenure spanning five years.
An agency insider explains, "Bhasin's expertise, tenacity and entrepreneurial drive will come in handy in the business of unconventional media which is where future growth will come from." Agency sources peg the size of the conventional media industry at Rs 10,000, with the "non-conventional" business at Rs 1,500-Rs 2,000 crore. "You can see the potential here," he says.
Sources in the know maintain that the "reorganisation" within the agency has been on for a while with key departures and appointments in the recent past. For instance, NP Sathyamurthy who moved from Euro RSCG in October has opted out after barely two months in the company, whereas Henry D'Souza, erstwhile president of Hindi daily Navbharat is now at the helm of affairs at outdoor agency Aaren Initiative. Again, Suresh Balakrishnan, executive vice-president, Initiative Media, moved to Hindustan Times, Delhi, effective this year.
As head of non-traditional media, Bhasin has the task of leading the business, identified as a sunrise area, while de Souza will pick up from she left off in the late nineties as president, Initiative Media. Incidentally, she continued to be on the group's board and was seen celebrating last year when ad agency Lowe Lintas was officially christened as Lowe. Â© 2003 agencyfaqs!