Chime CEO Chris Satterthwaite To Step Down After 15 Years
Chris Satterthwaite will step down as CEO of Chime after 15 years in charge, according to Gideon Spanier of CAMPAIGN LIVE. Creative agency VCCP's Adrian Coleman and Matthew Vandrau of Chime Sports Marketing will take over his duties as co-CEOs in January. Satterthwaite has "more than quadrupled operating income and headcount" since he became CEO in '03 and turned Chime from a public relations business into an int'l sport, entertainment and communications group. He oversaw the sale of a majority stake to Providence Equity Partners in '15 in a £374M deal that has "helped to fund further expansion." Satterthwaite said, "This is the right time for the next generation to take control. It is two years since the buy-out and I get a real sense that the group is working closer together and I want to go off and do new things." Coleman will retain his role as CEO of VCCP and Vandrau will remain CEO of Chime Sports Marketing in addition to their co-CEO group roles. Chime "has made a string of other appointments to its management team." Chime Specialist Group CEO Joanne Parker was named COO of Chime. VCCP CMO Stephanie Brimmacombe was appointed group managing director of Chime. VCCP Chair Charles Vallance was named Chime's head of strategy (CAMPAIGN LIVE, 11/12).