Waters (pictured) will join the company on 1^st July and be appointed as an executive director of the board. 

Previous chief executive Michael Karg stepped down from the role in November 2019. Alan Newman, who took over from Karg on an interim basis, will resume his role as chief financial and operating officer from 1^st July.

Prior to becoming executive chairman of UK & Ireland at Dentsu Aegis Network, Waters was chief executive of the company’s Asia-Pacific business for nine years. Before Dentsu, he was chief executive of EMEA at Mindshare.

Rob Woodward, group chairman, Ebiquity, said: “Nick has an outstanding track record of leading global media and marketing businesses which will greatly benefit Ebiquity. He is an excellent addition to our executive team and brings a wealth of knowledge and experience in the media sector. The appointment of such a high calibre executive is a testament to the strength of the business and the growth opportunity ahead.

“I would like to thank Alan Newman for his strong leadership and commitment to the business in the role of interim CEO, particularly through the current challenging environment and implementation of prudent measures to manage the business.”

Ebiquity also announced cost reduction measures in response to Covid-19, including a 20% salary reduction for senior management and board members. The company has deferred a pay review, temporarily frozen recruitment, and is furloughing some staff in the UK and France. The payment of dividends has also been deferred. The group said it expects to issue its 2019 financial results in early May.