Directors acquire majority stake in Leeds-based Source

Simon Austin's picture
by Simon Austin
Source

Directors Daniel Kennedy and Martha Phillips have acquired a major stake in Leeds-based Source Marketing Communications.

The move which see one of the company’s founding directors, Steve Clark, step back from day-to-day involvement in the business. Source was founded in 2001 by Clark and Peter Downey, who has retained his share in the company and “has no intention of reducing his full-time role”.

Kennedy said: “The PR scene has changed dramatically since Peter and Steve set-up Source back in the early noughties, with various big names disappearing and a host of new ones coming to the fore.

“Source though has been there throughout – coming through not only the biggest recession in living memory, but the birth of social media and the seismic change that has had on the PR landscape.

“Martha and I are delighted to have been given the opportunity to take the lead at Source, and our aim is simple – we want to build upon its impressive track record and ensure its success story continues for many more years to come.”

Phillips, who joined Source to form its social media arm in 2015, added: “Source is one of the most well-respected names in Yorkshire PR and social circles – a reputation that has been earned by year-upon-year of incredible client service and the provision of high quality, no-nonsense PR content.

“A huge part of this success has been down to Peter and Steve, and so we are extremely grateful that Peter will remain fully involved as his expertise will continue to be invaluable to both the business and its clients for many years to come.”

Marta Rijo has also been promoted to senior account executive by the agency.