Mr. Stone succeeds Mark Dowley, 36, who continues as Momentum chairman. Last year, Mr. Dowley became vice chairman of WorldGroup Marketing Communications Cos., overseeing four of McCann's nonadvertising agencies.
Parent Interpublic Group of Cos., like most other agency holding companies, plans to increase 2001 revenue by growing nontraditional marketing-services units. Interpublic posted a 13% jump in 2000 revenue, which managers credited in large part to McCann-Erickson's network of specialized marketing-services units.
"As clients become more and more results-driven, they are demanding to know that for every dollar spent, `x' comes back in quantifiable results. We've grown as an industry in our ability to show quantifiable, trackable results," Mr. Stone said of sports and event marketing firms.
Two additional Momentum executives also are changing roles. Chris Weil, 35, previously exec VP-account services based in New York, is relocating to London as regional director of Momentum Europe. Mark Shapiro, 49, who is chairman and CEO of Momentum North America, takes on the additional duty of worldwide vice chairman-sales promotion.
Mr. Stone's move marks a return to the Interpublic family. He was an executive at Advantage International when, in 1997, Interpublic bought the sports marketing company to create Octagon, a separate sports marketing arm under the Interpublic umbrella. Mr. Stone served as president of Octagon Marketing until 2000; during that time, he frequently worked with-and competed against-Mr. Dowley at Momentum. In 2000, Mr. Stone left Octagon to become CEO of Mysportsguru.com, later acquired by Myteam.
Momentum's roster includes Coca-Cola Co., American Express Co., General Motors Corp., Gateway and Gillette Co. The agency, which reported more than $1 billion in billings last year, has grown from a 60-employee company with $10 million in revenue in 1996 to a 1,600-employee company with $170 million in revenue in 2000, Mr. Dowley said. About 75% of its business is gained independently; 25% comes through other Interpublic divisions, he said.