James Greet, chief executive of media agency Ikon in Australia and New Zealand, is leaving the company after only 18 months in the position.

According to reports, Greet resigned from the role in order “to pursue other opportunities”.

Following the departure, the STW-owned agency has announced an internal restructure of its management model. Each office will now be run by a managing partner, who in turn will report to STW’s chief executive Mike Connaghan.

Lesley Edwards will head up the Brisbane office; Sharon Cookson will run the Melbourne branch; Pat Crawley will be put in charge of Ikon Sydney; and Emma Bolser will look after the New Zealand office.

Connaghan said: “Ikon is in excellent shape, with an enviable client roster and is well known for its absolute passion for driving outstanding client results.”

Greet’s departure follows a rough two years for the agency after it lost some of its major accounts including Vodafone, Coca-Cola and Diageo.

The agency also quietly closed its Perth office last year, moving the work it had to Ikon Brisbane and Ikon Sydney.

Prior to Ikon, Greet was the chief executive of OMD between 2002 and 2006. He also held the position of chief executive of Mindshare Australia, Japan and South Korea.