LONDON — Freuds' senior executives Arlo Brady and Caroline Wray will lead the firm's senior management team following the departure of CEO Andrew McGuinness this week.

Brady and Wray, who head corporate and consumer, respectively, will report directly to chairman and sole shareholder Matthew Freud. A Freud spokesperson added that "there are no current plans to fill the CEO role."

Former adman McGuinness leaves after two years in a charge. In a letter to staff, Matthew Freud noted that "McGuinness guided the agency through one of its most significant periods of transformation and growth, culminating in this year being on track to be our most successful ever."

McGuinness will retain an advisory role at Freuds, focusing on acquisitions and investments. His tenure was notable for the deal to buy Brew Media Relations, which saw Freuds re-enter the US. However, this year has also seen some key account losses, including Pepsico and Asda.

"Over the last two years the agency has benefited immeasurably from Andrew's experience and leadership," added Freud in the letter.

"He has played a particularly significant role in our acquisitions strategy and he has driven the exciting tie up with Brew which has led the agency back to the United States after a 10 year absence. He has also been instrumental in strengthening the top team and directing the agency’s new business strategy, resulting in exciting partnerships with Virgin Money, McCain, London & Partners and many others."  

Prior to joining Freuds in 2014, McGuinness was founding partner at BMB, which he helped establish after leading TBWA\London.