Leslie
05-15-2003, 12:28 PM
graemlins/cheering.gif Ann Fudge Tapped as Chairwoman, CEO
Young & Rubicam becomes first mainstream advertising agency to appoint African American woman to top job
By Sonia Alleyne
In what many insiders are calling a surprise, Ann Fudge has been selected to succeed Michael Dolan as chair and chief executive officer of Young & Rubicam Inc. and Y&R Advertising, the agency's largest operating unit. The appointment makes her the first African American woman to head a mainstream advertising firm.
Dolan resigned after seven years with the company, seeing it through its acquisition by holding company WPP in 2000. In his departure speech, Dolan said there had been a number of top management changes since Y&R's acquisition and that it was time for him to move on, but media insiders say he had a rocky relationship with WPP chief executive Sir Martin Sorrell.
Fudge will be responsible for making sure the agency continues to be a leader in the industry. In a tough advertising climate, Young & Rubicam, which also includes media marketing companies Lando, Wunderman, and Burson-Marsteller, came out ahead in 2002. Collectively, its billings rose 5% to $3.4 billion. It also won several multimillion dollar accounts, including Land Rover (with $50 million in billings) and Mattel boy's toys (with $40 million in billings).
“I know that transitions are tough, and I know it's tough when there are changes in leadership. People are uncertain about what this person is all about,” Fudge said Tuesday. It was one of several “town hall” meetings scheduled at the Young & Rubicam building in New York City, where she addressed a group of 150 employees.
She used the opportunity to outline her management style. “I am so energized and excited about the growth prospects for the company. I hope you will work with me--and be honest,” she said. “I don't want to hear what I want to hear. I need truth. And the only way we win is [by] being open.”
It's a management approach that has served Fudge throughout her career in the packaged food industry. She spent nine years at General Mills, where she began as a marketing assistant, rising to the position of marketing director. Until 2001, Fudge was president of the $5 billion Beverage, Desserts, and Post division at Kraft Foods. At Kraft, she managed a number of packaged food brands, including Maxwell House Coffee, Gevalia Kaffe, Kool Aid, Crystal Light, Post cereals, Jell-O desserts, and Altoids.
Her background, however, has elicited concern from media insiders. Some say that agency executives and those on the client side approach advertising differently. Fudge is not the first client executive to make such a transition. Kevin Roberts, who also marketed packaged goods, is now the chief executive of Saatchi & Saatchi. But Fudge dismisses doubters. “My biggest asset is that I understand what the client wants,” she says, [I help them] “think things through strategically. I also love building teams and developing talent.”
Jack Feur, an editor at Ad Week, says Fudge's background makes her an excellent choice for the job. “Clients have a much better understanding of the mundane business practices that agencies know little about. Advertising companies have transformed from being just idea factories and brand builders. They are now full-fledged marketing businesses that have to compete with other marketing companies for more than just advertising business. [Having] a marketer at the helm makes sense, and in Ann's case you have one of the most respected marketers in the business.”
Fudge, who received a B.A. from Simmons College an M.B.A. from Harvard University, has been featured in many publications, including BLACK ENTERPRISE. She been recognized as one the most powerful women in American business.
05/14/03
Young & Rubicam becomes first mainstream advertising agency to appoint African American woman to top job
By Sonia Alleyne
In what many insiders are calling a surprise, Ann Fudge has been selected to succeed Michael Dolan as chair and chief executive officer of Young & Rubicam Inc. and Y&R Advertising, the agency's largest operating unit. The appointment makes her the first African American woman to head a mainstream advertising firm.
Dolan resigned after seven years with the company, seeing it through its acquisition by holding company WPP in 2000. In his departure speech, Dolan said there had been a number of top management changes since Y&R's acquisition and that it was time for him to move on, but media insiders say he had a rocky relationship with WPP chief executive Sir Martin Sorrell.
Fudge will be responsible for making sure the agency continues to be a leader in the industry. In a tough advertising climate, Young & Rubicam, which also includes media marketing companies Lando, Wunderman, and Burson-Marsteller, came out ahead in 2002. Collectively, its billings rose 5% to $3.4 billion. It also won several multimillion dollar accounts, including Land Rover (with $50 million in billings) and Mattel boy's toys (with $40 million in billings).
“I know that transitions are tough, and I know it's tough when there are changes in leadership. People are uncertain about what this person is all about,” Fudge said Tuesday. It was one of several “town hall” meetings scheduled at the Young & Rubicam building in New York City, where she addressed a group of 150 employees.
She used the opportunity to outline her management style. “I am so energized and excited about the growth prospects for the company. I hope you will work with me--and be honest,” she said. “I don't want to hear what I want to hear. I need truth. And the only way we win is [by] being open.”
It's a management approach that has served Fudge throughout her career in the packaged food industry. She spent nine years at General Mills, where she began as a marketing assistant, rising to the position of marketing director. Until 2001, Fudge was president of the $5 billion Beverage, Desserts, and Post division at Kraft Foods. At Kraft, she managed a number of packaged food brands, including Maxwell House Coffee, Gevalia Kaffe, Kool Aid, Crystal Light, Post cereals, Jell-O desserts, and Altoids.
Her background, however, has elicited concern from media insiders. Some say that agency executives and those on the client side approach advertising differently. Fudge is not the first client executive to make such a transition. Kevin Roberts, who also marketed packaged goods, is now the chief executive of Saatchi & Saatchi. But Fudge dismisses doubters. “My biggest asset is that I understand what the client wants,” she says, [I help them] “think things through strategically. I also love building teams and developing talent.”
Jack Feur, an editor at Ad Week, says Fudge's background makes her an excellent choice for the job. “Clients have a much better understanding of the mundane business practices that agencies know little about. Advertising companies have transformed from being just idea factories and brand builders. They are now full-fledged marketing businesses that have to compete with other marketing companies for more than just advertising business. [Having] a marketer at the helm makes sense, and in Ann's case you have one of the most respected marketers in the business.”
Fudge, who received a B.A. from Simmons College an M.B.A. from Harvard University, has been featured in many publications, including BLACK ENTERPRISE. She been recognized as one the most powerful women in American business.
05/14/03