Agency: Fallon London
campaignlive.co.uk, Wednesday, 25 March 1998 12:00AM
- The Poulter agency in Leeds has axed six staff after losing the creative assignment on more than £4 million worth of McCain Foods business.
The redundancies, which include jobs in the agency's creative services, finance and research departments, were made on Friday.
They come in the wake of McCain's decision to consolidate creative work on its entire £10 million account within DMB&B (Campaign, 6 March).
Poulters' media arm, Media Vantage, retains media planning and buying. But Richard Lewis, the agency's managing director, commented: "The fact is that McCains generates a lot of our income and we knew that if we lost the business we would have to cut our overheads."
Lewis said the McCains loss had forced the agency to bring forward some of the restructuring plans being announced to staff this Thursday. They follow an agreement by eight directors to buy the agency from its millionaire founder, Graham Poulter.
The completion of the MBO coincides with the departure of Andy Turnbull, the deputy managing director, who is disposing of his equity stake and quitting Poulters after 19 years to set up a market research and planning consultancy. He will continue working with a number of Poulter clients.
He leaves this week along with Andy Pratt, the new business director, who announced his exit last month (Campaign, 27 February).
Pratt is being replaced by Nick Eggleton, who has been running the new business operation at Brahm for the past 18 months.
Lewis described the departures of Turnbull and Pratt as "perfectly amicable" but added: "Our business is going to change significantly and they've decided to change as well."
This article was first published on campaignlive.co.uk