According to insiders at Shandwick, or rather International Public
Relations as the parent company is now known, recently departed
executives Colin Trusler and Dermot McNulty were given only a couple of
weeks’ notice before they left. Lord Chadlington only started work on
the restructuring after Christmas, with BG deputy chairman and fellow
International PR board member Philip Rogerson as his sole confidant. The
move seems to have been almost as much of a surprise to Trusler and
McNulty as it was to PR and City observers.
McNulty was presiding over healthy annual increases from Shandwick’s
world-wide operations, and Trusler had been promoted to a new job,
although the news was rather drowned by the kerfuffle over reports that
Shandwick was in negotiations with True North.
This month Trusler was due to give up his role as chief executive of
Shandwick UK, to take up a new, global role within the organisation as
group operations director.
In this new role, Trusler was to be responsible for identifying which
Shandwick businesses were performing badly and taking whatever measures
were necessary to bring them back to profitability.
Ironic then that Trusler and his chief executive should be the first
victims of cost cutting exercises at International PR.
According to last year’s annual report McNulty pocketed pounds 500,000
in salary, benefits and bonuses. No doubt things will be a little
tighter next year.