Since the name is now Simon Worldwide, it’s only appropriate that a Simon veteran take charge: The company formerly know as Cyrk, Inc., Wakefield, MA, last week officially announced that co-ceo Patrick Brady had resigned, leaving former Simon head Allan Brown in full control of the company.
The move was just the latest in what has been a series of major changes at the $769 million company, the most drastic of which was the sale of its Corporate Promotions Group — and the Cyrk name — to an investor group last December.
Brady’s imminent departure had been rumored about for several months. Other senior people whose resignations were announced last week were cfo Dominic Mammola (who will consult until a replacement is found) and executive vp Ted Axelrod.
Brown joined Cyrk in 1997 when it acquired Los Angeles-based premium and entertainment licensing Simon Marketing. He was named co-ceo with Brady in late 1999.
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