NEW YORK: Next Fifteen has extended M Booth chairman Margi Booth's remit across the group to help oversee the holding company’s 15 agencies, effective immediately.
Reporting to Next Fifteen CEO Tim Dyson, Booth will divide her time between her new EVP role and her continuing position as M Booth’s chairman.
Dyson told PRWeek he created this role for Booth to help him manage Next Fifteen’s businesses, as it has gone from being a "relatively small" holding company to a business with 15 diverse agencies under its umbrella.
"This is the first time we have ever had anyone in an executive capacity other than myself at the Next Fifteen level who is not on the operational side of the business," Dyson said. "[Booth] is the first person to come in and work directly with the businesses on what they do."
As EVP, Booth will work across all the holding company’s firms on mergers and acquisitions; and head up insights and analytics initiatives, looking at the firms’ capabilities, best practices, and how various offerings can be improved. She will also focus on attracting and retaining talent at the company.
Dyson added that Booth is "highly regarded" by other agency heads within the company and that her new appointment has been well-received internally.
"One of [Next Fifteen’s] big goals is to become a data-driven marketing company, so the extent to which I can help them achieve that goal is very exciting," said Booth. "But I will also stay active at M Booth helping [CEO] Dale Bornstein in any way I can; she walks on water and is doing a spectacular job."
M Booth is set to achieve 33% growth this year, Booth added.
Bornstein succeeded Booth as M Booth CEO in October 2013. At that time, Booth stepped into the role of chairman at the firm. Bornstein, who previously worked at Ketchum for 25 years, reports to Dyson.
M Booth was acquired by Next Fifteen in 2009 for an initial price of $4 million, with an additional $12.5 million that was paid over four years based on revenue and profit goals. It is understood Booth's earnout period ended in July 2013.
Next Fifteen owns and operates Text100, M Booth, Bite, The OutCast Agency, Beyond, and 463 Communications, among others.
Editor's note: The price Next Fifteen acquired M Booth for was amended to reflect the final price paid.