Ghossoub named Y&R’s interim CEO

Joseph Ghossoub, the CEO of Menacom, has taken over as the interim chairman and CEO of Y&R MENA.

The decision follows a period of uncertainty surrounding the leadership of Y&R, with Nadine Ghossoub having initially taken over as acting CEO of Y&R MENA in January following a review of the agency’s ‘business, future plans and goals’. Nagib Badreddine, who had been CEO since mid-2012, had been given new responsibilities in training, new business and strategic planning.

Badreddine has since resigned, with Nadine Ghossoub now remaining in her previous role as managing director of Y&R Dubai.

In a statement released from New York, David Sable, the global CEO of Y&R, said the restructuring of Y&R’s Middle East operations and the appointment of Joseph Ghossoub as interim chairman and CEO came as “Y&R enlarges and diversifies its offering in the region”.

“There is opportunity in the Middle East – for our clients and, in turn, for Y&R,” said Sable. “And there is no one better than Joe in whom to trust our future as we drive our shopper marketing capabilities, expand our digital capabilities through our VML offering, and recommit to leveraging our proprietary BrandAsset Valuator, the world’s largest global database of consumer perceptions of brands.”

He added: “For the important strategy we have committed to in the Middle East, Joe is unequivocally the most qualified to help us shape our future. He is without peer in the industry there and we are honoured that he will take this interim role in leading Y&R regionally.”

It is not known for how long Ghossoub will remain in the interim role, or whether a new CEO is being actively sought.

Core to Y&R’s development in the region will be the success of Y&R Dubai under the leadership of Nadine Ghossoub, who Sable said “is an essential part of our future growth”.