Salt Lake City-based advertising agency Love Communications has announced a change in leadership that will follow the retirement of the firm’s majority partners on Jan. 1. The change comes two years after the company converted to an employee stock ownership plan in which the company is essentially owned by its employees.
Love’s majority partners, Tom Love, Preston Wood and Alan Reighard will be “stepping away from day-to-day work life,” Love said. They will remain as executive officers of Love Communications Holdings, watching the financial position of the firm and approving major decisions like senior-level hires, workplace growth and overall stability.
“We’ll still continue to be involved with the firm on a board level, and we’ll remain available to our agency’s employees and clients as we’re wanted or needed,” said Love, president and founding partner. He started the company with his brother, Rich Love (who retired in 2017), and Wood in 1999. Reighard joined the organization in 2004.
With its managing partners transitioning, the Love firm has installed a senior-level executive committee consisting of three agency directors promoted to managing status earlier this year. The new management committee will focus on day-to-day operations, client and staffing needs and agency new business and growth.
Mark Stevenett, a longtime Love account executive, will be the agency’s new managing director/client services, while Amber Banks will become managing director/chief operating officer and Jonathan Smithgall will be the agency’s managing director/strategic and digital services. The management team will oversee a team of 11 senior-level directors who supervise all operations of the firm on a day-to-day basis.
“This is a transition plan two years in the making,” Love said. “We are very confident in our leadership team and our entire staff to both lead and grow the agency and its legacy for the next many years ahead.”