Parry is to become non-executive chairman from 1 January, with group development director Peter Reid stepping up to become group chief executive.
A statement from the group says, ‘Mr Parry was brought into Media Square in July 2007 to lead a major restructuring programme. At the time of his appointment it was stated that the intention was to appoint a chief executive during 2010.’
David Worthington, Lloyd Northover Group chairman, welcomed Reid’s appointment, saying, ‘I like Peter immensely and work very well with him. He fully understands the strategic imperative behind growing businesses by encouraging managers and looking for opportunities.’
Reid says, ‘Although some of the Media Square consultancies remain sub-scale and with relatively poor operative margins, we now have a solid base from which to build a highly successful and creative group.’