NP Sathyamurthy, VP - Media, All India, Euro RSCG has quit Euro RSCG. Effective today, he has moved to Initiative Media as VP, Media Planning. If the sources are to be believed, Sathyamurthy won't be the only one joining Initiative Media.
With the formation of MPG India, is it bad timing? Says Sathyamurthy, "I have been planning to move for some time now, and arrival of MPG has nothing to do with it!" He rationales that his new assignment has a wider canvas. "I am moving to Initiative Media because I want to work on FMCG brands. On technology brands, there is much lesser scope for planning," says Sathyamurthy.
If the sources are to be believed, Sathyamurthy won't be the only one joining Initiative Media. The agency is on a major restructuring and expansion drive. On condition of anonymity, a senior agency official said, "We are strengthening various functions, and it is but natural that we look at appointing more people. We are looking at some internal restructuring as well." The agency, reportedly, has got some new clients, and is in talks with several players. It is also being seen as a move to strengthen Initiative Media to face the increasing challenge. After MindShare, MPG has also started operations in India, and OMD is expected to follow soon.
Meanwhile, in an unrelated move, Suresh Balakrishnan, Executive VP, Initiative Media has decided to move to the other side of the fence. He is joining Hindustan Times as Vice President, Marketing. He would move to Hindustan Times head office in Delhi. At Initiative media he was the also the head of two divisions - Lintel, the rural buying arm and media buying division - Millennium. Balakrishanan would be joining HT in January 2003, and is part of Initiative Media still.
Ashish Bhasin, President, Initiative Media, though did not deny that there was restructuring taking place in the agency, but refused to comment.