LONDON: Michael Murphy, former CEO and non-executive chairman of Hunstworth Group-owned Grayling, has left the business.
Murphy, who was global CEO of the company for four years, became non-executive chairman in February when Pete Pedersen succeeded him as CEO. Murphy said last July that he would step down from his role as soon as a successor could be found.
He has had a long working relationship with Huntsworth chief executive Peter Chadlington, having worked together in the 1990s at Weber Shandwick before becoming CEO of Trimedia International, which was sold to Hunstworth and later merged with Mmd and Grayling.
“Grayling is in good hands with [Pedersen] and his strong management team, and I am keen to pursue multiple opportunities both in marketing communications and other areas of business,” said Murphy. “I've been an entrepreneur all my life. I've started and built businesses, and I can see a lot of opportunities in the marketplace. I want to start with a blank canvas.”
Chadlington added that “[Murphy] has had a long and distinguished career first at Shandwick and now at Grayling where he brought together all our brands under one banner with great consideration and care.”
“We all wish him the very best in his pluralist future,” he added.
Last week, Hunstworth said that Grayling's first-half revenue was down 7.2% to $62.8 million, contributing to a 0.5% like-for-like drop in parent company's Huntsworth's overall revenue.
This article originally appeared on the website of PRWeek UK.