Exclusive: Zac Moffatt to oversee Stagwell's communications and advocacy companies
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Stagwell has named Zac Moffatt global chair of its newly combined communications and advocacy division, Axios is first to report.
Why it matters: The announcement comes as the holding company looks to stabilize and streamline a segment that has seen softening revenues.
Driving the news: Moffatt will oversee Stagwell's roster of communications and public affairs firms, which includes Allison, HarrisX, HUNTER, Consulum, SKDK, Sloane, Targeted Victory and SixAM.
- The combined unit represents nearly $400 million in expected 2025 net revenue and more than 1,500 employees, per the company.
What they're saying: Moffatt points to the need for unified leadership and infrastructure to meet client demands.
- This allows the firms to integrate the resources, tools and talent from across the Stagwell network, he says.
- "The industry is seeing a lot of change and now must move at the pace of politics, have the tools to go direct to consumer through CEO [communications], and adapt with the fractured media landscape."
- "It's an opportunity for more reach and scale to better service clients by offering honest and integrated advice," he says.
Zoom out: There are fewer, big brands within the holding-company PR landscape as consolidation and the creation of umbrella brands becomes the norm.
- WPP folded Hill + Knowlton into Burson, and Omnicom's public relations umbrella continues to expand following its mega-merger with IPG and will now house FleishmanHillard, Ketchum, Porter Novelli, MMC, Weber Shandwick and Golin.
What's next: Moffatt noted that he would assess duplication efforts across the vertical, which might require "balance" or "some reshuffling to integrate expertise."
- Moffatt — who previously served as CEO of Targeted Victory — will report to Stagwell CEO Mark Penn and Targeted Victory will be led by co-founders Abe Adams and Ryan Meerstein.
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