EMAK Worldwide has promoted four senior executives, among them Brian Kristofek, who becomes CEO of one of EMAK’s promo agencies, Upshot.
Kristofek had been president of the Chicago-based agency, where he has worked since 1996, overseeing account services, event marketing, and retail planning. EMAK bought Upshot in July 2002.
At the same time, EMAK promoted Mike Sanders to chief financial officer of the parent company, bringing that job title out of mothballs. EMAK eliminated the CFO position in December 2005, splitting the workload between Sanders and Roy Dar, vice president and controller. Sanders had been vice president of finance.
Dar is also getting a promotion, to senior vice president and controller. He remains as principal accounting officer for the company.
Lastly, Duane Johnson takes the new title of senior vice president of human resources. He had been vice president of human resources for three years.
EMAK is in turnaround mode, having spent the last several months restructuring to strengthen its three agencies: Upshot, Equity Marketing, and Logistix. The work has yet to pay off. EMAK’s 2006 revenues were down nearly 19% to $181 million. Agency services were up 45% to just over $30 million, but its bread-and-butter promotional products business was down 20% to $141 million, and consumer products fell 60% to just over $10 million.
"2006 was a rebuilding year for EMAK, during which we implemented strategies to reduce costs, streamline our organizational structure and get our agencies growing again,” said EMAK CEO Jim Holbrook in a statement. “The turnaround of EMAK, which has been sometimes painful but necessary, is mostly behind us. Our primary focus is now on growth; and I expect us to post improved revenue numbers over the next several quarters."
EMAK ranked No. 42 in the 2006 PROMO 100, with 2005 net revenues of $40.5 million, up a mere 1% over 2003.
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