MARSH CONFIRMS McGRATH EXIT FROM GPY&R
October 22 2008, 4:26 pm | | 9 Comments
Nigel Marsh, chief executive of Y&R Brands has confirmed publicly for the first time that Matt McGrath, executive chairman of Y&R Brands, has left George Patterson Y&R.
Marsh (pictured) told CB: “Matt has been a total gentleman during the process of handing over the business. He’s welcome to stay as long as he likes. However, he has decided to take a break from the business before pursuing fresh opportunities in the New Year.”
Marsh would give no further comment.
9 Comments
By jesus, that would have been expensive.
The Driest Golden Handshake ever!
More like a platinum handshake.
why did it happen? – expatt overseas
I’m sure he is very happy that it’s all over, he can now enjoy some time on he beaches with his family, good luck to him, a true gentlemen always.
I’m sure his happy demeanour and open management style will be sadly missed by all in Clarence Street.
He should take the opportunity to write a book detailing his experience.
Considering the dozens of GPYR Sydney staff who lost their jobs in recent months due to loss of business, I’m not surprised to hear this. The cost of a newly-created Chairman’s position (I’m assuming there was a cost? I doubt it was voluntary!) would surely have been impossible for management to justify under those circumstances.
Any attempt to do so would’ve left a very bad taste in everyone’s mouth and any morale that still exists in Clarence St would’ve been killed off completely.
Which begs the question – why was the Chairman’s role ever created in the first place?
(For the record – I don’t have anything against Matt McGrath – I heard he was a good guy.
I’m just asking what everyone else would be wondering).
To 5:12pm, 8:12pm & 10:25pm – Really? I heard a rumour that there’s supposed to be a freeze on all terminations at the moment….hmmm……maybe the rumour is wrong then…..
4.20 asks why the Chairman’s role was ever created.
Well, let’s just say that in my many years with the agency, the Chairman’s role popped up quite regularly in Patts offices around the country. It was almost always a quiet way of moving someone out the door – and everyone knew it.
It’s a bit like when they had a reshuffle of account directors. You always knew the poor sucker who had “Director of New Business” next to his name would be out the door pretty soon.