Mustoe Merriman Herring Levy has made a conclusive break with Chris
Still, its financial backer and the chairman of the agency at its start
up three years ago.
The agency is now fully independent, having gradually bought out Still’s
25 per cent equity in the company.
Still owns the lease on its current offices in Earlham Street, Covent
Garden, and the agency’s planned move into new premises later this month
is symbolic of the severing of the relationship.
Nick Mustoe, the chief executive of Mustoe Merriman, said: ‘Still has
stood down as a director and we have bought out his equity. We always
wanted to own ourselves.’
Mustoe Merriman was formed out of a breakaway from Lowe Howard-Spink,
when the five original staff performed a reverse takeover of Addition
Marketing, an agency set up by Still with Ben Langdon, now the managing
director of McCann-Erickson.
Still, the former chairman and chief executive of Still Price Lintas,
has been increasingly less involved in the agency, and is reportedly
happy with the buy-out.
Mustoe Merriman’s new premises, still in Covent Garden, will allow the
agency to operate on a single floor.