Rowland ready to grow from Cordiant split

Marty Franken, chief operating officer of Rowland Worldwide, this week signalled his intention to grow the company by acquisition.

Marty Franken, chief operating officer of Rowland Worldwide, this

week signalled his intention to grow the company by acquisition.



Franken was speaking after Monday’s announcement that parent company

Cordiant is to split into three businesses.



He said the move was a great opportunity for Rowland, which had been

held back by Cordiant’s ’financial constraints’. With new financing in

place, he said there would be ’some very significant growth moves, in

some very key markets’.



He declined to comment on whether he was in talks with London agencies,

but said: ’Rowland will not be a second league player in this

marketplace’.



As part of the demerger proposals, Rowland will move away from the

separately-listed Saatchi and Saatchi - with which it has been closely

linked not least through shared business with Procter and Gamble.



Instead Rowland will be part of the listed Bates group, a ’diversified

marketing communications company’ which includes ad agency Bates

Worldwide, exhibition marketing company HP:ICM and market research firm

National Research Group.



Bates chairman Michael Bungey - who blocked Franken’s bid to mount an

MBO from Cordiant two years ago - is to be group CEO. Revenues for the

group - which is likely to be renamed - were pounds 375 million for

1996. There are no figures released for Rowland.



Franken emphasised that Rowland would operate independently of the Bates

ad agency. Commenting on speculation that his own position might be

under threat, he said: ’Obviously I’ve got a new boss ... but there is

nothing envisaged in terms of changes to the management structure’.



Franken also denied that there would be any radical restructuring of the

agency.



Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.