LONDON — Lee Nugent is stepping down from his role as CEO of Nelson Bostock, after 20 years with the Creston-owned PR firm.
Nugent told the Holmes Report that he has no concrete plans for his future, but will leave the business by the end of January 2016.
His departure brings a close to an eight-year period where he led the business, serving as MD of Nelson Bostock, before becoming CEO in 2011. During that period, Nugent oversaw considerable success, which included the Holmes Report naming Nelson Bostock UK Consultancy of the Year in 2011.
There was also, however, plenty of change under the ownership of Creston. New firms were launched in the shape of consumer arm Fever, digital shop Things With Wings and Mediaworks, alongside closer integration with sibling agency TMW and others, driven by an overall rebranding of the business under the Creston Unlimited banner.
Earlier this year, Nugent's mentor and Nelson Bostock co-founder Martin Bostock retired after 28 years with the business. Last month, in addition, Fever co-founder Frankie Oliver also left.
Creston has opted not to immediately replace Nugent. Instead, Nelson Bostock MD Nick Clark and Fever MD Bruce McLachlan will report directly to Creston Unlimited chairman Tim Bonnet.
"This has not been an easy decision to take, but it’s one that I’m confident is right for me at this time. I’m proud to leave behind a tremendously strong management team who I know will continue to produce excellent work on behalf of our clients," said Nugent.
"The business is in great shape and I’m proud to say the next tier of management is ready to take things on from here," added Nugent. "For me, it’s time for a new challenge outside of the Creston Group. I’m keen to continue to shape and build teams that can deliver next-generation communications programmes for clients and I’m determined to put the skills we as PRs offer at the centre of ‘integration’ initiatives. I believe the future for PR has never been brighter."
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