VMS replaces CEO Peter Wengryn

NEW YORK: Media intelligence software business VMS has parted company with its longtime CEO Peter Wengryn, and replaced him with David Stephens, formerly a managing director at publisher Wolters Kluwer Health.

NEW YORK: Media intelligence software business VMS has parted company with its longtime CEO Peter Wengryn, and replaced him with David Stephens, formerly a managing director at publisher Wolters Kluwer Health.

The VMS board notified employees last week. Leadership changes had already been underway at the company, which is undergoing a transition from its roots in media monitoring and measurement to a broader media analytics software company.

Over the summer, CMO Michael Giovia also left VMS, after seven years, as did at least two other senior-level executives. At that time, Wengryn said the recession had significantly changed the landscape for PR tools, and now customers were demanding real-time media intelligence software that bolstered ROI and justified corporate PR spending.

Coupled with changes in demand, he also said cutbacks in corporate PR spending during the recession had impacted the private company.

“We need to be a much more nimble company in responding to these changes,” said VMS marketing manager Darren Drevik, who took over Giovia's marketing and communications role. 

Stephens takes over as president and assumes full operating responsibility of VMS, reporting to chairman and owner Robert Waggoner.

At Wolters Kluwer Health, which produces journals, textbooks and reference material for the healthcare professionals and students, Stephens oversaw Asia Pacific operations while based in Sydney. He also held senior roles at Thomson Reuters and management consultancy McKinsey & Company.


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