Toronto’s The Hive has brought on new leadership by hiring Jared Stein as its president and CEO.

Stein’s hiring will be “transformative” for the agency, according to Rick Shaver, who has been CEO at the company for the past seven years.

“We’ve been keen to strengthen our leadership team for quite some. Having been part of the proud Hive Inc. heritage since the beginning, I am excited to make room for Jared and give him the lead,” says Shaver, noting he will remain active in the business.

“Jared represents the new face of marketing communications. He fully understands the importance today of making authentic connections with consumers and of providing a value exchange between brands and their audiences,” Shaver added in a release.

Along with the move for Shaver from CEO to founding partner, Stein’s arrival also coincides with the departure of Trent Fulton, who had been with the company for the past 12 years. He is leaving the company to pursue other opportunities in the industry, Shaver says.

Stein joins Hive from Sid Lee in Toronto, where he has worked for the past decade, most recently as VP of growth and innovation. At Sid Lee, Stein was involved with multiple award-winning campaigns, including “We The North” for the Toronto Raptors.

He joins an executive team that includes CCO Simon Creet, chief experiential officer Jennifer Lukas, CFO Troy Hayball, founding partners Shaver and Ted Rakoczy and chairman Andy Krupski.