October 15, 1987
Saatchi & Saatchi Co. PLC, New York, has named Victor Millar chairman and chief executive of its consulting division. He also will assume the role of chairman and chief executive of the communications division, replacing Anthony Simonds-Gooding, who is leaving to become the chief executive of British Satellite Broadcasting.
May 12, 1986 |
Saatchi & Saatchi Co. PLC said today it has agreed to acquire Ted Bates Worldwide Inc. for $450 million in a deal that would create the world's largest advertising agency. The merger, if approved by stockholders and various government agencies, would result in an agency with more than $7.5 billion in annual billings and operations in 50 countries. It would also make British-owned Saatchi larger than the as-yet-unnamed holding company of the recently combined BBDO International Inc.
June 14, 1989 |
British advertising giant Saatchi & Saatchi Co. PLC today reported an almost 70% drop in profits and said it might shed its consulting division. The company said in a statement that it has appointed a U.S. investment bank, the Blackstone Group, to develop proposals to float off its consultancy unit. Saatchi entered the consultancy business in 1984 and last year said the division was the 10th-largest in the world. But the advertising group was said to be increasingly disappointed with results from the consulting unit, and its sale has been rumored.
October 12, 1989 |
Charles and Maurice Saatchi, the brothers who created the world's biggest advertising agency and "sold" Prime Minister Margaret Thatcher to British voters, will step down as joint chief executives, the company said today. London-based Saatchi & Saatchi Co. PLC said Robert Louis-Dreyfus, 43, will take over as sole chief executive of the agency as of Jan. 1.
March 13, 1990 |
Saatchi and Saatchi Co. PLC today announced 30% salary cuts for founders Charles and Maurice Saatchi and several other steps designed to help turn around the troubled British advertising agency. Maurice Saatchi, who is chairman of Saatchi's board of directors, and, Charles Saatchi, a director, will see their annual salaries cut to about $699,000 from $1 million.
July 16, 1987 |
Saatchi & Saatchi Co. PLC, the British advertising holding company that leads all others in annual worldwide billings, announced the merger of two of its biggest U.S. ad agencies Wednesday and shuffled top personnel. Emerging as the winner is Carl Spielvogel, 58, who founded Backer & Spielvogel Inc., in 1979 and sold it to Saatchi six years later.