Pincus steps down from FRB's top post

CHICAGO: After four decades at the helm, chairman and founder of

the Financial Relations Board Ted Pincus has moved to a part-time

position with the firm in a corporate realignment by parent company

BSMG.



BSMG has bought out the remainder of the contracts for Pincus, 67, and

FRB president Michael Rosenbaum, another veteran of the agency.



Pincus had seven-and-a-half years left on his salaried contract, he

claimed, for which he said BSMG paid him dollar for dollar. Rosenbaum

had "several" years left.



Pincus, who said his salary was a drag on FRB earnings, has been given

the honorary title of chairman emeritus. He will also do consulting work

with IPG on a fee basis.



FRB will now be headed by Donna "Donni" Case, FRB vice chairman, who

takes the title president. She will report to BSMG vice chairman Andy

Polansky. Under Pincus, FRB reported to Harris Diamond, who is currently

grappling with the Weber Shandwick merger (see story, left).



BSMG bought FRB in January 1999 for $33 million. At the time, FRB

had an annual income of $33.5 million. After a record performance

in 2000, FRB, which specializes in material announcements, shareholder

and analyst outreach, and other IPO work, has seen a slight decline in

revenues this year, but Polansky said Pincus' departure was wholly

unconnected.



"Ted has done a formidable job - he invented this business, for heaven's

sake - but the time is right for change. Donni is dynamic, very

well-liked, and the right person to move the business forward." Polansky

said he would be looking for greater synergy between FRB and the

corporate practice in the post-Pincus era.



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