Magazine article ADWEEK

Search for New Draftfcb Boss Takes Hard Road

Magazine article ADWEEK

Search for New Draftfcb Boss Takes Hard Road

Article excerpt

Draftfcb's search for a new global CEO has only gotten harder. Since parent company Interpublic Group began seeking candidates late last year, the agency has lost its grip on key brands like Oreo and Taco Bell, dismantled its media department, and seen retail account Kmart launch a review. The agency also failed to reach the finals of Honda's U.S. agency search.

In short, the top job looks even more difficult than it did a few months ago when IPG set out to find a successor to Laurence Boschetto, the agency's CEO since 2009. Some believe it's the hardest search in advertising right now. On a scale of one to 10, two agency CEOs ranked the degree of difficulty at nine, with one adding, "How they're going to pull that together, I don't know."

Beyond the fundamentals of retaining and adding business, the new boss will face the ongoing challenge of realizing the potential of IPG's 2006 merger of direct marketing specialist Draft and traditional ad agency Foote, Cone & Belding. Boschetto, 58, came from the Draft side of the fence, and the solution this time may be an outsider without ties to any camp.

"It's important that the person not be a Draft, FCB or Interpublic person," said Paul Gumbinner, a New York recruiter who's not involved in the search, "They need to bring in someone who is totally objective and comes in with an iron glove to make the changes that need to be done."

No insiders are among the two candidates IPG and Draftfcb are currently eyeing, according to sources. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.