AdAge reports on some changes in the upper echelons of Y&R.
Y&R’s new CEO, Hamish McLennan, started 2007 with a bold move: announcing the departure of Michael Patti, vice chairman and worldwide creative director. In a terse, four-sentence press release, the agency announced today Mr. Patti left effective Dec. 31.
According to industry rumor, the agency had agreed to a hefty severance package in the event that he was fired from the agency. In fact, one Y&R insider said WPP made a payout in the millions of dollars to cover the cost of his severance.
“This exemplifies what Hamish is all about,” the insider said. “In the new Y&R, there’s nowhere to hide. You’ve gotta deliver.”
The Wall Street Journal is also carrying the story.
Mr. Patti, known as a passionate creative talent, sometimes clashed with Y&R executives and clients.
Given that Burger King, Ford Motor Co.’s Jaguar, Computer Associates and Sony Consumer Electronics have all departed under Patti’s watch (and Ann Fudge’s watch), changes needed to be made. That’s business.
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