January 13, 1995 |
Saatchi & Saatchi Co. sued ousted co-founder Maurice Saatchi on Thursday as it tried to combat a crisis that devastated the advertising company's stock price and sent executives and clients packing. The huge ad concern accused Saatchi and three other former company executives of "a conspiracy to injure the business of the group."
January 12, 1995 |
Maurice Saatchi, deposed chairman of what was once the world's biggest advertising group, said Wednesday he is striking back by forming a new agency. Saatchi will staff the new group with senior executives who have quit Saatchi & Saatchi Co. since his dismissal. Just hours after his announcement, British Airways, one of Saatchi & Saatchi's biggest clients, said it decided to end its contract with the company pending a review of its advertising.
January 10, 1995 |
Saatchi & Saatchi suffered a major blow Monday as three top executives quit only a week after Maurice Saatchi was forced out as chairman of the giant advertising firm he co-founded. Saatchi & Saatchi, whose results have fallen in recent years, said it would have no problem replacing the departing executives and immediately named two new board members.
January 4, 1995 |
Maurice Saatchi, who with his brother built one of the largest advertising agencies in the world, on Tuesday walked out of his company vehemently protesting the new management. Saatchi was deposed as chairman of the British advertising empire last month. He was offered an executive position with a subsidiary and was given until Tuesday to accept it. He turned it down. Saatchi & Saatchi, established in 1970, was the hottest ad agency of the booming 1980s, serving an international clientele.
November 5, 1991 |
Cochrane Chase, Livingston & Co., a granddaddy of the Orange County advertising industry, is set to close its doors by the end of the year and dismiss its 33-person staff. The company has spawned at least seven local agencies--notably Salvati Montgomery Sakoda in Costa Mesa and Newport Beach-based Forsythe Marcelli Johnson Advertising--and has trained dozens of executives who went on to join prestigious firms here and in Los Angeles.
January 11, 1991 |
Britain's Saatchi & Saatchi, once the largest advertising agency in the world, unveiled plans Thursday to solve the huge debt problems that threaten its existence. The plans involve an injection of cash for working capital--to ensure financial stability--and a change in its share structure. Saatchi is suffering from falling revenue in a worldwide recession, while facing rising costs on debts of $950 million.