A board restructure at Leeds-based Source Marketing Communications sees co-founder Peter Downey step back from the day-to-day running of the agency after 21 years and fellow director Chris Hughes acquire a major stake in the business.

 

Source, which was founded by Steve Clark and Peter Downey in 2001, is one of the longest established agencies in the region, thanks to an impressive client roster and integrated servicing offering spanning PR and social media through to SEO and paid digital marketing.  

 

Peter now steps down from his full-time role within Source to embark on semi-retirement after a long and illustrious career within the Yorkshire PR and marketing agency scene. As co-founder of the business he has played an integral role in managing its client base, many of whom have been with Source since its early days.  

 

In another key change to the board structure and future planning of the business, Chris Hughes has stepped up to acquire an equal shareholding alongside directors Daniel Kennedy and Martha Phillips. He joined the business six months ago, having spent over 20 years working for some of the biggest PR and digital marketing agencies in Leeds and Manchester.

 

Peter Downey, director and co-founder at Source, commented: “The last 21 years have gone by remarkably quickly and I have enjoyed working with some great clients. Despite recessions and pandemics, Source has always made a profit and this financial year will be a record in terms of turnover and profitability.

 

“Daniel, Martha and Chris are a formidable team who will build on this success and take Source onto its next stage of growth.”

 

Chris Hughes, a director at Source, added: “Having recently joined Source it’s a real honour to be made a major shareholder within the business. We’ve got a hugely talented team in place, work with some fantastic clients and I’m very much looking forward to the future and driving forward the direction of the agency with Daniel and Martha.”