Meet the CEOs: Lion & Lion's Fredrik Gumpel

Fredrik Gumpel, Lion & Lion's CEO, describes himself as a "numbers guy" and pursued a Master’s Degree in Applied Economics and Finance in Copenhagen Business School before joining the adland. His first foray into the world of advertising was in 2018 when he took on the role of Lion & Lion's chief commercial officer. That was also his first time working in an agency. Before that, Gumpel had assumed roles related to business and finance as well as the biotech industry. 

Despite his background in finance, Gumpel remained undaunted when he stepped into the adland. Instead, he told A+M that coming in with a different perspective based on his corporate finance and strategy background has “served [him] well”, as this combination created a balanced leadership team that was not bound by conventions.

Additionally, the switch to a more dynamic and creative industry has been “a great epiphany (and a positive challenge)” to experience how creatives think and work, exposing him to the art of incorporating creativity to solve business problems, he said. With these newfound insights, and an unorthodox way of working - balancing creativity with numbers, Gumpel assumed the position of Lion & Lion’s CEO in 2019, helming the agency for three years to date, his LinkedIn said.

Find out more about Gumpel's journey in advertising thus far and who inspires him.

A+M: What was your first role in advertising?

Gumpel: Throughout my career with Carlsberg and global biotech firm Novozymes, I have worked on big global brands within marketing. However, my first job in advertising, which was also my first time in an agency, was as chief commercial officer for Lion & Lion Group back in 2018. I felt that coming in with a different perspective with my corporate finance and strategy background has served me well as I have had strong and very experienced agency people around me. I also feel that this combination has created a very capable and balanced leadership team here at Lion & Lion. Because of this, we are not bound by conventions but are capable of seeing and doing things in new and creative ways, while still building on the industry practices that we believe fit our way of working.

A+M: What was your first impression of advertising?

Gumpel: Crazy, dynamic, inspiring and addictive!

The combination of addressing challenging business needs, high demands, working with a mix of both youth and experienced talents, big budgets, and brilliant minds ‒ it is a crazy, but a fun cocktail.

The speed at which the industry is moving at is exhilarating and exciting. It forces me to stay on my toes in order to stay relevant in terms of the product I offer, while at the same time, provides continuous opportunities from a commercial perspective.

Especially for me, because I come from a very corporate background of finance and corporate strategy and also having worked closely with R&D in biotech where the majority follows a more scientific way of thinking and working. It has been a great epiphany (and a positive challenge) to experience how creatives think, work and manage, versus what I have been used to previously. It has taught me a lot and helped me improve my own ways of thinking and working. I would also like to add that working with so many creative people has opened my eyes to the ability to use creativity to solve some of our business problems that I deal with on a daily basis. This mindset is at the heart of what we do at Lion & Lion, because we take pride in being a creatively-driven and digital-first agency.

The fast pace, the constant opportunities, and the variety in brands is hard work, but very fun. The industry constantly challenges us as an agency to do better, but after we deliver our best work or propose our most creative ideas, that feeling of satisfaction makes us hungry for more.

A+M: Who was the mentor who influenced you the most and how?

Gumpel: I never had mentors in the traditional sense, but I have been very lucky to have friends that are five to 10 years ahead of me in their career and life. I got to know some of them in my native country, Denmark, but I also met others here in Malaysia. Their sparring has been invaluable throughout my career and has given me important guidance professionally as well as privately.

A+M: What's the harshest criticism you've received and how did you cope with it?

Gumpel: Receiving criticism is a natural part of being a leader and the more it relates to your decisions and less on you as a person, the easier it is to cope with. Hence, some of the criticism I received earlier on in my career when I was not a leader, I recall as the harshest because it related to how I personally performed certain tasks, reacted in specific situations, and not decisions I made on behalf of an organisation. In this context I will however focus on criticism received while being a CEO.

As a leader it’s an important part to focus on making the right decisions rather than the most popular decisions, and that may sometimes spark negative reactions with people that don't agree with you.

A specific example is from my early days as CEO with Lion & Lion where we had to restructure the company and our ways of working to future-proof our organisation. In the wake of that, I faced criticism and disagreements with colleagues for the decisions we made. I was empathetic of the reactions and communicated my reasoning as transparently as I could. Even if other people did not agree with my decisions, the important thing was that they clearly understood why they were made and the rationale behind them.

That was a tough time, but I’m proud to look back at what we have achieved since then. I feel comfortable about the fact that we made the right decision back then as we have completed a very successful turnaround of the company in less than three years. Besides becoming a healthy company financially, we have also become a more focused agency, one that places creativity and making a positive impact on businesses and people at the core of what we do.

A+M: Describe your own management style now as a leader.

Gumpel: Listening and always being aware of the fact that I’m not the expert across most of the fields I’m dealing with on a daily basis. I seek input from the people around me while being decisive and accountable once the final decision needs to be made.

I try to be empathetic and understand the situation from the other side's perspective. I also try to be a leader that contributes with ways to finding solutions and generally positive energy, but I also do believe in being a direct, honest and transparent leader.

Because of my finance background, I am a "numbers" guy. I do believe in managing the business through a very strong understanding of the underlying numbers and I expect my direct reports to do the same. I respect that in this type of industry, everyone isn't equally comfortable with numbers, but we do our best to be transparent in the sharing of information to ensure that the key decision making in our company is rooted in verifiable data.

A+M: What's one thing you wished employees understood about being a leader?

Gumpel: As I mentioned earlier, being a leader is not about making the most popular decisions, but making the right decisions and having the ability and integrity to manage towards what is right in the long term. While making the most popular decisions is not something to strive for, I’m fully aware of the need to get people on board with you by having them understand why and respect the decisions you make.

A+M: What do you do during your free time?

Gumpel: Spending time with my family (daughter, son, wife and dog) and friends and when I have time, I play golf, football, surfing, and running.

A+M: Where do you find your inspiration?

Gumpel: Everywhere. What inspires me are people who do their best. They do not have to be the best, but making an honest effort to be the best you can be inspires me. This could be seen in sports, in corporate life, in start-ups, in politics, at home, and even on the street. People at all levels and stages of life striving to be the best they can and do well, inspires me.

A+M: If not in advertising, where would you be?

Gumpel: Most likely I would still be with my previous employer in the biotech industry or working together with some of the friends (“mentors”) I mentioned earlier in the interview.

A+M: What advice do you have for someone looking to start a career in the industry?

Gumpel:

Think long term; about building your core skills before changing jobs for the wrong reasons (in my opinion) such as small increments and a new title.

Investing your early years in an employer (and a manager) that makes you continuously grow and learn will be the best investment you can make. The money and the titles will follow later on in your career.

A+M: What issue would you like to see the industry change in 2022?

Gumpel: Building on my response to the previous question, I would like to see higher employee retention rates. I know the global trend of “the great resignation” has made attrition rates go up, but I do think that the high turnaround is negatively impacting the development of the younger generation of marketeers. When people jump too early and too frequently, it creates inefficiencies for both the employers and will slow down their own personal development.

I would also like to see the fees being paid to agencies being more value-driven than cost-driven. Too much focus on price as the main criteria for selecting agency partners will ultimately deplete the industry for talent and diversity as only the biggest (and not necessarily the best) agencies will be able to survive. A race to the bottom as desperate agencies drop prices below cost levels will not do the industry any good in my opinion.

A healthy mix between quality and price is what brands should strive for when choosing their partners as that will ultimately create the best return on their marketing spend.

Ensuring the focus on the “how” and not only the “what” would serve the industry well. Doing this would encourage creativity and hopefully also boldness to be infused into more aspects of the marketing we see every day, which in return, would be more impactful, more interesting and deliver better results.

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