Michael Peters legacy to continue

Michael Peters will continue to handle two or three key Identica accounts for up to a year until a new chief executive is found for the consultancy. Peters announced he was stepping down as chairman and chief executive at Identica yesterday.

Peters is unable to talk to the press for contractual reasons, but a source close to him suggests his replacement will take a purely management role, with creative director Chris Riley in creative control. Peters has been planning his departure since selling Identica to Canadian communications company Cossette in October 2003. He is now writing a book about his career, Make My Logo a Little Bigger, and creating an education toy for children with learning difficulties. 

Further restructuring of the company is likely once a new chief executive steps in, the source reveals.