Ann Fudge, the 2-year-new CEO of Young & Rubicam, has been on a losing streak lately. She has been presiding over execs and clients abandoning ship.
Big billing losses include Burger King, Computer Associates International, Sony and Kraft Foods. The last loss really hurt as CEO Fudge had been a Kraft marketing hotshot before taking the helm at Y & R, and its parent company, Y & R Brands, which includes PR agency Burson-Marsteller, branding expert Landor Associates, and Wunderman, the well-known direct marketing agency.
Now comes word that Y & R has lost Jaguar, which bills $150 million globally to Euro RSCG Worldwide. Fudge neglected to attend the apparently key first meeting laying out the agency review, supposedly with the car maker’s consent.
Jaguar is owned by Ford which has three larger brands still handled by Y & R.
Staffing has been cut at the New York office alone by more than 10%, through both resignations and firing.
Fudge has admitted in a Business Week interview that she will relinquish the advertising hot seat at Y & R, while maintaining her top position at the parent company.