Clockwise from the left: Cannes Lions, Phil Thomas and Duncan Painter
Ascential, the British owner of Cannes Lions, has told investors it plans to split in two and spin off its digital commerce business into a separate US-listed company.
Duncan Painter, the long-serving chief executive of Ascential, who floated the company on the UK stock market in 2016, will become CEO of the digital commerce business. Scott Forbes, the chair of Ascential, will also move to become chair of the digital commerce business.
Phil Thomas, who already oversees Cannes Lions as CEO of Ascential Intelligence and Events, will succeed
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