Racepoint Global has announced that Peter Prodromou, the company’s president since 2013, will assume the role of CEO. Larry Weber, who founded the firm in 2004, is to take on the title of founder and chairman.
Prodromou has been part of Racepoint Global, which has its European HQ in London, since it was founded in 2004. He has served in several roles, including as the first head of its Boston office, where he created its public affairs offer.
He also opened its Washington office, started Racepoint Global’s country affairs practice and was chief global accounts officer.
Prodromou became president in 2013 when the company merged its sister company, Digital Influence Group – a social media marketing firm – into the Racepoint brand.
He also helped launch FieldFacts, an influencer marketing tool for Racepoint Global customers, and expanded the agency’s China footprint to include a Shenzhen office, which will open later this month.
Before Racepoint Global, Prodromou worked with Weber Shandwick for several years at the industry’s tech PR agency, The Weber Group.
Prodromou was also a partner in an advertising agency and before that, spent several years as part of a deal origination group at Lehman Brothers affiliate, The Boston Company Advisors.
As well as his new role as CEO, Prodromou will retain the title of president at Racepoint Global.
The agency says these moves are part of an overall strategy to double the agency’s revenue and expand its footprint over the next five years.
Larry Weber, Racepoint Global’s founder and chairman, said: “In 2013, I asked Peter to take the role of president and help me rationalise our terrific service offer into something unique to the industry. With his guidance and partnership, we have grown the organisation by one-third as measured in revenue and increased our profits significantly.
“His ability to translate my vision into action, along with his own ability to intuit the future of the industry, has been a critical asset underpinning our great growth.”
Prodromou added: “My time with Larry Weber and the Racepoint family has been dynamic, thrilling and constantly fresh. We share a rare symbiotic vision and approach that reflects what the industry needs and clients want.
“Our ability to execute on this has fortified growth and profitability that exceeds industry norms. We expect that as Larry focuses on increased thought leadership and I on growth strategies, we will continue to beat our peers and be a leader.”