Lowe becomes second FCB agency in Switzerland
Lowe is joining forces with FCB Leutenegger Krüll. As the two agencies announced on Wednesday, they will operate under the umbrella of DRAFTFCB in future. This means that the planned management buyout by Lowe CEO Kurt Schmid did not actually take place.
Lowe is joining forces with FCB Leutenegger Krüll. As the two agencies announced on Wednesday, they will operate under the umbrella of DRAFTFCB in the future, meaning that - as Werbewoche reported on October 16, 2006 based on insider information - the planned management buyout, as communicated by CEO Kurt Schmid to the trade press (see
), did not actually take place. The information provided by Werbewoche proved to be correct. Werbewoche also received information from Lowe London on October 17 that discussions were still ongoing and that no decision had yet been made regarding the ownership structure (the official wording on October 17 was: "We are in discussion regarding the future of our operations in Switzerland, but as yet no firm decision has been taken with regard to management ownership"). There can therefore be no question of negotiations proceeding according to plan at this time, as CEO Kurz Schmid claimed to the trade press (see Lowe: ) On Thursday, November 16, Werbewoche also received the information that Lowe Switzerland was in talks with FCB. Neither Kurt Schmid nor Peter Leutenegger from FCBLK confirmed the information. On the contrary, when asked by Werbewoche, Leutenegger said that the information was nice, but certainly not correct. Once again, however, the information provided by Werbewoche proved to be correct.
The alliance that has now been forged is as follows: Lowe Switzerland and FCBLK are now organized under the umbrella of DRAFTFCB Worldwide as of 1 January 2007. The two agencies will continue to operate with their own brands under the umbrella of DRAFTFCB AG. The approximately 40 employees of both agencies have already been informed and will be working at the current FCB headquarters in the Mühle in Zurich-Wallisellen from the new year. The intention is to further expand the teams. The two current CEOs will become Managing Partners with equal rights. Across the agencies, Peter Leutenegger will be responsible for agency management and Kurt Schmid for strategy. Keith Loell will be the new Creative Director for both agencies. Mike Krüll has "decided on a new direction", as stated in the press release.
The alliance between the two agencies also takes place against the backdrop of the global merger of DRAFT, the largest direct marketing and interactive agency in the USA, and Foote, Cone & Belding FCB, one of the world's largest agency networks with branches in over 100 countries. Initiative Media has also been on board via DRAFTFCB since the partnership in October 2006.
Kathrin Fischer, Sonja Levy
), did not actually take place. The information provided by Werbewoche proved to be correct. Werbewoche also received information from Lowe London on October 17 that discussions were still ongoing and that no decision had yet been made regarding the ownership structure (the official wording on October 17 was: "We are in discussion regarding the future of our operations in Switzerland, but as yet no firm decision has been taken with regard to management ownership"). There can therefore be no question of negotiations proceeding according to plan at this time, as CEO Kurz Schmid claimed to the trade press (see Lowe: ) On Thursday, November 16, Werbewoche also received the information that Lowe Switzerland was in talks with FCB. Neither Kurt Schmid nor Peter Leutenegger from FCBLK confirmed the information. On the contrary, when asked by Werbewoche, Leutenegger said that the information was nice, but certainly not correct. Once again, however, the information provided by Werbewoche proved to be correct.
The alliance that has now been forged is as follows: Lowe Switzerland and FCBLK are now organized under the umbrella of DRAFTFCB Worldwide as of 1 January 2007. The two agencies will continue to operate with their own brands under the umbrella of DRAFTFCB AG. The approximately 40 employees of both agencies have already been informed and will be working at the current FCB headquarters in the Mühle in Zurich-Wallisellen from the new year. The intention is to further expand the teams. The two current CEOs will become Managing Partners with equal rights. Across the agencies, Peter Leutenegger will be responsible for agency management and Kurt Schmid for strategy. Keith Loell will be the new Creative Director for both agencies. Mike Krüll has "decided on a new direction", as stated in the press release.
The alliance between the two agencies also takes place against the backdrop of the global merger of DRAFT, the largest direct marketing and interactive agency in the USA, and Foote, Cone & Belding FCB, one of the world's largest agency networks with branches in over 100 countries. Initiative Media has also been on board via DRAFTFCB since the partnership in October 2006.
Kathrin Fischer, Sonja Levy
