The former boss of Diageo PAUL WALSH "will be named on Friday as the new chairman of Chime Communications," owner of the sports marketing agency headed by SEBASTIAN COE, according to Mark Kleinman of SKY NEWS. Walsh, "who has taken on a string of board roles since leaving the Smirnoff and Guinness owner in 2012," will replace the former Trade Minister MERVYN DAVIES at the helm of Chime.
Chime's controlling shareholder, the private equity group Providence Equity Partners, is attracted to Walsh's "experience running a global consumer goods business with a significant exposure to sports sponsorship activities."
Walsh "recently joined the board of HSBC Holdings, and also chairs Avanti" and Compass. He was also offered the chance to chair F1's parent company but "decided against it." Davies is said to have decided that it "would be inappropriate to continue as chairman of Chime, one of the communications industry's biggest independent players, after overseeing its removal from the stock market." CSM "has a major presence in F1 and other motorsport series following its 2013 purchase of JMI, while Chime also owns the award-winning advertising agency VCCP" (SKY NEWS, 1/28).
