Insiders at the agency were informed of the decision yesterday. Uva will leave the agency at the end of March.
Daryl Simm, chairman and chief executive of Omnicom Media Group will assume Uva's duties, with an announcement of a permanent successor to the role expected in the future.
Univision Communications has named Uva as its new CEO as it looks to reach out to new advertisers and tap into additional sources of ad revenue.
Univision reported net revenues of $2.17bn for 2006, an 11% increase over the previous year, with TV accounting for about 74% of net revenues. The company also has radio, music and internet assets.
Prior to joining OMD Worldwide as president and CEO, Uva was president at Turner Entertainment Group, sales and marketing, for Turner Broadcasting Sales.
Uva joined Turner in 1984 as an account executive for CNN. He started his career as a media planner and buyer for both McCann Erickson and Grey Advertising.
Last month, OMD consolidated its hold at the top of the media agency league, by capturing the number one spot in the Gunn Report for Media annual rankings for the third consecutive year.
OMD jumped from 161 points in 2005 to 201 points in 2006 to claim the honour.
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