PHD joint MD Lucy Formosa Morgan exits in exec restructure, Stuart Bailey appointed Chief Operating Officer

News 13 Oct 2021 - 2 min read

PHD joint MD Lucy Formosa Morgan exits in exec restructure, Stuart Bailey appointed Chief Operating Officer

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PHD Australia CEO Mark Jarrett (R) announced significant changes to the agency's Executive Leadership Team, including the departure of Lucy Formosa Morgan (L) and the promotion of Stuart Bailey (centre) to COO.

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Tags: PHD PHD Australia Mark Jarrett Stuart Bailey

Veteran PHD joint National MD Lucy Formosa Morgan will exit the agency in a broad restructure which has seen her fellow joint MD Stuart Bailey elevated to Chief Operating Officer amid a raft of new promotions.

What you need to know:

PHD has unveiled a “significant” restructure to its senior leadership team, promoting several staff to new roles.
Stuart Bailey, currently joint National Managing Director, will be COO, while other joint National Managing Director Lucy Formosa Morgan will leave the business.
Stephanie DouglasNeal becomes PHD Sydney MD, while Simon Lawson becomes PHD Melbourne MD.

PHD Australia has restructured its senior leadership team, promoting half of its dual managing director team, Stuart Bailey, to Chief Operating Officer, while the other half, Lucy Formosa Morgan, is leaving the business.

CEO Mark Jarrett said Bailey’s new position reflected his role leading the agency through a “difficult 18 months” while maintaining relationships with key clients.

Stephanie Douglas-Neal, who has led the People and Development Team, becomes Managing Director of PHD Sydney, while Simon Lawson will be Managing Director of PHD Melbourne. He has doubled the size of the agency’s Melbourne office over the past four years, adding Asahi, Spotlight Retail Group, Swisse and Tennis Australia to the agency’s client portfolio.

PHD’s National Head of Trading, Joanna Barnes, its National Head of New Business and Marketing, Kate Milligan, and National Head of Strategy, Mitchell Long, will take up positions on the Executive Team.

Formosa Morgan joined the agency 10 years ago and leaves as a result of the shuffle.

The new roles will begin from November 1.