Grey appoints ad-industry 'Godfather' as chairman and CEO for Greater China

Peng (pictured), a 17-year McCann veteran, announced his resignation last week, surprising many people in the ad industry in Greater China, Peng has served as CEO of McCann Worldgroup Greater China since 2001, and is credited with building the important Greater China market into one of McCann's foremost operations in terms of growth, creative excellence, and strategic innovation.

At Grey, Peng will report directly to James R. Heekin III, chairman and CEO of Grey Group in New York. He knew Peng professionally when he was chairman and CEO of McCann-Erickson and McCann-Erickson Worldwide in 2001. In fact Heekin promoted the then younger Peng from CEO of  McCann Taiwan to CEO of McCann Worldgroup Greater China.

"TH Peng is the finest advertising leader of his generation in China. During our years together at McCann and beyond, I have been deeply impressed with his vision, passion, creativity and dynamism as the architect of one of the world's leading networks in China," Heekin said. “Peng is a fighter, a ‘blood brother’ and a strong leader. I trust him implicitly. We are delighted to welcome him to Grey.”

China currently still has an annual growth rate of nine per cent, compared to what could well be in recession in other mature markets. Heekin said Peng’s appointment was a signal and result of the increasing importance of China in the agency’s global portfolio, with many major clients are investing more in China market. "We need someone with a strong vision, extensive experiences and personal network, particularly as a creative himself, Peng could attract a tremendous talent pool throughout Greater China to Grey."

With the new baton at Grey, “TH will be instrumental in guiding our ambitious growth plans in China, a fulcrum market for our future development in the region,” he added.

Heekin acknowledged that scale was one of the main challenges for Grey in China, and the agency was in the process of closing two agency acquisition deals before the end of this year. These would double the agency's size in the Greater China region.

"TH brings a tremendous track record of achievement to his new role," Nirvik Singh, chairman and CEO of Grey Group Asia-Pacific, added.  "His appointment is a clear signal of our ambitions to aggressively pursue growth and expand our reach and resources in China."

Grey Greater China includes operations in Beijing, Shanghai, and Hong Kong but it has scaled down its operations in Taiwan in recent years.  Its blue-chip client roster includes Procter & Gamble, GlaxoSmithKline, Tencent, Galaxy Macao, Uni President Foods, and the Hong Kong Tourism Board.