Octagon Worldwide, the Interpublic-owned sports and entertainment group, has lured a senior European executive from rival IMG in a move to strengthen its top-level management.
IMG senior international vice-president Tim Moufarrige becomes joint managing director of Octagon Worldwide. He will share responsibility with Matthew Wheeler, who moves up from his post as director.
Meanwhile, group president Frank Craighill has been promoted to the role of deputy chairman, working closely with chairman and chief executive Frank Lowe.
Moufarrige has been at IMG for 11 years, and most recently was involved in the launch and development of the group’s new media and technology arm, TWI Interactive. He has also worked closely with sports federations and governing bodies.
Lowe says: “Craighill will work closely with me on developing plans to take Octagon to the next level.”
He adds: “This new management structure puts the company in position to continue its development over the next few years.”
Octagon says its revenue has increased by over 500 per cent in less than three years, with billings of more than $1bn (&£625m). It claims it has now overtaken IMG, owned by Mark McCormack, as the leading sports marketing agency.