In an interview in today’s New York Times, Hamish McLennan, new CEO of Y&R Brands and Ann Fudge’s replacement, talks about the challenges that agency faces:
Q. What is your perception of Y&R’s place in the industry?
A. Generally, it’s going well. We’ve got $800 million in global revenue. What’s happened in North America over the last three years was a disappointment. People know Y&R as an iconic agency that stood for great people, great thinking, over the decades. It’s not good for anyone if it fails, and it won’t. The most important things in the next two to three years are how we can capitalize on opportunities as they come up in new media, diversify our offering, become more aggressive in new business and invest in our talent.