PHD names Lucy Formosa Morgan and Stuart Bailey as joint MDs following Mark Jarrett’s promotion to CEO

Following former managing director Mark Jarrett’s elevation to the CEO position two months ago, PHD has promoted Lucy Formosa Morgan and Stuart Bailey to jointly replace him in the role of MD.

The splitting of the role will involve Formosa Morgan being responsible for driving new growth and championing best practice, while Bailey will be charged with evolving the agency’s integrated capabilities and continuing to provide advice to clients. Mumbrella understands neither Formosa Morgan’s chief investment and commercial officer role nor Bailey’s chief digital officer role will be replaced, with the heads of those teams continuing to report to Formosa Morgan and Bailey.

Formosa Morgan and Bailey’s promotions are effective immediately