Mr. Spengler, 43, has worked at Initiative since 1993, starting as a broadcast buyer and most recently working as the agency's chief activation officer, where he supervised buying across broadcast, print and online channels. Initiative announced last week that Mr. Beaven would succeed Alec Gerster as the network's worldwide CEO when he retires in March.
'Natural next step'
Taking on the role of president feels like a "natural next step," Mr. Spengler said, adding that he hopes to continue the momentum Initiative's U.S. office has picked up recently following big accounts wins such as Hyundai Motor Americas and Cadbury Schweppes.
"We think media is more important than ever," Mr. Spengler said. "It has become more important to our clients, and I want to keep that going."
The agency is also promoting Alan Cohen, exec VP-managing director of Initiative West, to president, Initiative West and worldwide innovation.
Mr. Cohen, 51, is a longtime media and entertainment marketing executive who is highly respected for thought leadership in the industry. After a nearly 25-year career at 20th Century Fox, ABC and NBC, he came to Initiative in 2005 and built the agency's Innovations unit, a consultancy for emerging media and creative marketing.
"Tim and Alan have been critical talents as Initiative has transformed into a media, marketing and digital company over the past 18 months," Mr. Beaven said in a statement. "They have repeatedly proven themselves as the right leaders at the right time in our industry."
Both appointments become effective in March.