Devoted Boston Globe readers may have seen Belfort Group in the news today, with former CEO Joan Schneider and now-chief executive Phil Pennellatore appearing in Bold Types talking about the recent sale of the company.
Despite interest from West Coast agencies looking to acquire a presence in Boston, Joan ultimately decided to sell her agency of 38 years to a familiar face – Phil, who has been at BG for nearly two decades including the last three years as president. Choosing a familiar face over an unknown entity was ultimately most appealing to Joan, who is staying on in a part-time role for at least a year.
“We have a great team. We wanted everybody to stay together. The best way to do that is to have a management buyout,” Joan told Jon Chesto at the Globe.
And while BG will remain Boston’s public relations and integrated marketing leader, Phil said the agency has some big changes planned for 2019.
Click here to read about the exciting things in store for BG next year under new leadership!