o2ideas announces ownership change
Shelley Stewart, founder and CEO of o2ideas, has sold the Homewood-based advertising agency to four members of the firm’s management team, including his daughter Sherri Stewart.
The move completes a leadership transition Stewart began in 2013 and is in keeping with his desire for the company to retain its character and philosophy going forward. Stewart will continue to consult and advise o2ideas, and maintain his office at the company’s headquarters, 600 University Park Place, Suite 200 just off Lakeshore Drive.
The new ownership team is comprised of Sherri Stewart, who in addition to o2 leadership responsibilities will retain her role as executive director of the Mattie C. Stewart Foundation; Linda Payne, vice president and chief financial officer; Howard Pearlstein, creative director; and Bill Todd, president.
The new ownership team had already been providing executive-level leadership for the agency for several years, according to a media release. With this move, o2ideas will be a women- and minority-owned business. In addition to the four new owners, o2’s executive management team includes Client Services Director Lisa Harris.
Shelley Stewart co-founded with the late Cy Steiner what is now o2ideas in 1967. He was a silent partner at the time because he was black and Birmingham was facing civil rights protests related to racial discrimination. Steiner Advertising went through several name changes before adopting the name “o2ideas” in the early 1990s. The firm has grown to serve globally recognized brands, with a healthy mix of regional and Birmingham area clients as well.
Stewart, who also had a prolific radio career of 55 years, said the move allows him to focus more time on his role as founder and president of the Mattie C. Stewart Foundation, the nonprofit organization he founded in 2007. To date, the foundation has reached more than 19 million children, parents and educators in 49 states through tools designed to increase high school graduation rates.
“I want to make sure o2ideas stays on the cutting edge of our industry for many years to come,” Stewart said in a statement. “I have observed this team for some time now and I know they are up to the task.”
Stewart will also continue his public speaking schedule.
Bill Todd, president of 02ideas, said he and other members of the new leadership team are “honored that Shelley has entrusted us to build upon the legacy he has built over the past 48 years.”
“o2ideas is not only a great role model firm for the advertising and public relations industry, but for American business overall,” Todd said. “Our company characteristics of mutual respect and human rights, coupled with a commitment to excellence in serving our clients, flows directly from the heart of Shelley Stewart. That’s a legacy we want to preserve.”
Todd said o2ideas has ambitious growth plans to not only serve clients locally and regionally, but also nationally and beyond.
“We are particularly proud of the relationships we’ve built with our clients and the opportunity to bring them ideas to help their businesses grow and succeed,” Todd said. “We intend to leverage the best talent and business practices to be among the very top firms in the industry in serving our clients. The target we’ve set is high.”
o2ideas is a member of Worldwide Partners, the world’s largest owner-operated agency network. For more information, visit o2ideas.com.