What You Need to Know
- Cambridge realigned its business functions into three areas of responsibilities across the firm: Innovation and Experience, Growth and Development, and Advocacy and Administration.
- Three of its executive vice presidents have been promoted to president for each of the new divisions.
- The new Office of the CEO is led by Cambridge CEO Amy Webber and the three divisional presidents.
Cambridge said Monday that it has made organizational changes to its executive structure that include the creation of an Office of the CEO.
As part of the shifts, Cambridge has realigned its business functions into three areas and named three executive vice presidents as presidents: Colleen Bell now heads Innovation and Experience, Jeff Vivacqua leads Growth and Development, and Seth Miller is in charge of Advocacy and Administration.
The Office of the CEO will be led by Cambridge President and CEO Amy Webber, who became the firm’s chief executive officer in 2017 and was made its president in 1998. She succeeded founder and former CEO Eric Schwartz, who continues to serve as executive chairman of the board of directors.
The idea for having an Office of the CEO was Webber’s, she told ThinkAdvisor in an interview Monday. “By creating the Office of the CEO, I am giving myself the ability to talk about strategy and the big picture with someone other than myself or myself and Eric,” she explained.
At the same time, she’s “bringing in three really talented leaders that have been with our company for a long time to that higher level, visionary discussion earlier than we would normally do so,” Webber said, noting that Bell, Vivacqua and Miller have each been with the company for over 10 years.
This is also “all about continuity of leadership for us,” she explained, adding: “Our goal is to remain internally controlled, in charge of our own destiny [and] keep Cambridge moving with the same culture, core values and commitment that we’ve always had to our clients.”
Although “I have no intentions of going anywhere … at north of $1.5 billion [in yearly revenue], it’s probably time that I don’t have two very important roles and I hand off the baton on one of those roles,” Webber added. “If you keep loving what you’re doing, which I certainly do, assuming that my health holds up or whatever, I plan to be here for a really, really long time.”