NEW YORK: KWT Global has named cofounder and president Gabrielle Zucker as CEO, effective at the start of next year. Cofounder and CEO Aaron Kwittken will move to the role of chairman.
The change is taking place as Kwittken focuses more on PRophet, a PR AI-driven company launched this year with MDC Ventures.
Kwittken said that the decision to promote Zucker was made “probably in January of this year, almost a year ago, when we started building the code base and software for PRophet and when MDC and I realized we were on to something more than a product.”
“We always had a succession plan in place,” he added. “With [Zucker], it makes it easier. She was always the person who was next up, and we have been working for the greater part of the year on the transition itself.”
In addition to managing PRophet, Kwittken will continue to work with select KWT clients, host his Brand on Purpose podcast and participate in agency business development and marketing initiatives.
Zucker will maintain her duties as president, though she said the changes are “also an incredible opportunity for our leadership team, which is very strong, and we’ll be making some internal promotions to elevate those folks as well.”
Parent holding company MDC Partners merged KWT and HL Group at the start of June, though the agencies will operate with their individual brands and P&Ls through the end of this year. Kwittken was named the combined firm’s global CEO while Zucker was appointed president, reporting to Kwittken. HL cofounder and CEO Lynn Tesoro was named founding partner of HL Group, but has since left the firm.
MDC’s Group B, which contains its Constellation group, including 72andSunny, CPB, Instrument and Redscout, and its Doner Partner Network, which includes 6degrees, Doner, KWT, Union, Veritas and Yamamoto, reported a Q3 revenue decline of 13.1% to $112.2 million. The holding company posted a 16.4% drop in Q3 organic revenue to $283.4 million and said it was making progress on its proposed merger with Stagwell Group.
This story was updated on December 15 with additional information.