Wayne Arnold, global CEO of MullenLowe Profero, has announced his decision to stand down from the agency he helped to found two decades ago, ahead of a significant restructure of management.

A top-level shake up is taking place with immediate effect which will see America’s CEO and NY president Aaron Reitkopf handed the additional responsibility of global chairman while Ben Mooney has been appointed as global head of business transformation.

This newly created role will see Mooney take responsibility for bringing in new business, nurturing global client relationships, bolstering talent and engendering deeper collaboration with technology partners. Initially posted in Sydney Mooney will subsequently relocate to New York in 2018.

Arnold said: “I’d like to personally thank the thousands of people who have been part of this 20-year journey so far; from those who started in the office behind the not-so-beautiful laundrette in Islington, to the hundreds of globally curious team members, clients and partners who have helped drive extraordinary work and growth. We have achieved it together, and I thank you.”

Global CEO Alex Leikikh commented: “Appointing brave, innovative thinkers like Reitkopf and Mooney to senior positions is testament to Arnold’s visionary and tenacious global strategy. Elevating Reitkopf to chairman from within the business reflects our values of finding quality people from within.”

Arnold will leave the agency on 25 March 2018.

In 2015 Mullen merged with Lowe and Partners to form the Mullen Lowe Group.