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First Published: Wed, Aug 15 2007. 01 20 AM IST
Updated: Wed, Aug 15 2007. 01 20 AM IST
The big buzz is thatLintas India Pvt Ltd’s national creative director R. Balakrishnan aka Balki and some of the agency’s creative consultants will be given performance-based compensation since they will not be getting any part of the trustee shares sold to holding company Interpublic Group (IPG). This compensation is expected to be 20-30% of what they would have got in share-sale proceeds, say sources.
Top agency sources also say that an agreement has been reached between Balki and IPG officials whereby he will be de facto chairman of the agency and have a say in crucial decisions. He will assume the post after chairman Prem Mehta’s two-year term, say these people. Balki denies this, and Lowe Worldwide CEO Stephen Gatfield says, “News manufacturing around changes at Lowe is mistaken and ill-informed”.
Media specialist Carat Media Services India has seen many exits fairly rec-ently—Sudarshan Rajan (business director), Sweety Parikh(business director), Manoj Malkani (associate business director). Various high-level media executives say Carat’s CEO, Charles Berley Jenarius, has also put in his papers, though Richard Halmarick, chief of Carat’s holding company, Aegis Group, South Asia, has denied this.
Fashion designer Vikram Phadnis has joined hands with Anil Dhirubhai Ambani Group’s Zapak.com, an online gaming site, to create gaming characters that wear his designs. He is putting together about 20 different avatars.wearing leather and lycra.Ad veteran Alyque Padamsee has launched LeagueOne Marketing Services Pvt. Ltd, which aims to be the one-stop solution for advertisement campaigns, media planning, non-traditional communications, etc.
The TV18 Group has promoted B. Sai Kumar as Group COO. He was earlier CEO of TV 18 Media Network, the group’s commercial arm looking after CNBC, IBN and the Web businesses.
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First Published: Wed, Aug 15 2007. 01 20 AM IST