MOVERS: Cannes Lions' Penny Reid Resigns

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After a mere seven months as CEO of the Cannes Lions International Advertising Festival, Penny Reid has stepped down. Reid, 46, previously served as joint-CEO at Tequila London after it merged with TBWA/GGT, where she had worked for seven years. The news release states Reid left due to personal reasons, and that a new CEO will be recruited soon. ... New York editorial company Company X signed Rich Schafler for East Coast representation.
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