Sherrington left the company he founded in 1988 in July, to take up the position of marketing director at the recently merged SABMiller.
McGowan previously held the position of global insight director. He has worked on clients such as General Motors, Vodafone and Guinness UDV. Nichols has spent a year in Sydney as managing director, charged with building the Added Value business in Australia, and was most recently group head of impact.
He will work alongside existing UK managing partner Janine Hawkins.
Andrew Seth, non-executive chairman of Added Value, said: "With his in-depth knowledge of Added Value -- the company and culture and clients -- together with his undisputed leadership qualities and expertise, Paul is the natural choice for the role."
Added Value was acquired by WPP Group when it bought Tempus last year, after a long, drawn-out battle. Since then, several senior Tempus staff have left the company, most notably chairman Chris Ingram, who in June departed the company he founded.
Added Value has 250 staff located in seven international offices, with clients including Unilever, Shell, Levi's and Coca-Cola.
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