Octagon chief to quit following US relocation

Octagon Worldwide managing director Matthew Wheeler is to leave the company following the relocation of its head office from London to the US.

Wheeler joined the sports and event marketing company in 1997 after Interpublic Group, Octagon’s parent company, purchased sports marketing firm API, where he was chief executive. However, last week Octagon announced plans to relocate its headquarters to New York. Wheeler was offered a position in the new management structure but declined. Wheeler does not have a job to go to and he will not be replaced.

Last week Interpublic Group announced plans to rename Lowe Lintas & Partners Worldwide as Lowe Worldwide from January.

Octagon was co-founded by Frank Lowe and has four operating groups worldwide: Octagon Athlete Representation, Octagon Marketing, Octagon CSI and Octagon Motorsport. The Motorsport arm promotes the British Grand Prix at Silverstone. This week it lodged a &£3.5m bond with the FIA, the sport’s governing body, as a guarantee that it will solve the access problems that have affected the last two races.

Earlier this year Octagon was chosen by the Fédération Internationale des Ãâ°checs (FIDE) to handle marketing and find commercial partners for the 2003/2004 Chess World Championships to be held in London. (MW November 8).