prweek.com, Thursday, 17 May 2012 08:00AM
Lord Bell Chairman, Chime Communications
Bell's plan to carry out an MBO of Chime businesses that are constituents of Bell Pottinger is expected to be complete by the end of May, with a circular being sent to shareholders shortly thereafter. In an interim management statement released last week, Chime said that the main terms had been agreed.
Deputy chairman, Chime
Became MD of Good Relations City in 1985 and subsequently launched Chime with Bell
MD, Pelham Bell Pottinger
Expected to take a key role in the new business; owns a major chunk of Pelham
Chairman, Bell Pottinger Public Relations
A key figure in The Independent's sting operation; represents Rebekah Brooks
Group MD, Bell Pottinger Group
Has been with Bell Pottinger for three years, before which he was director of comms at Marconi
Deputy chairman, Bell Pottinger Group
Moving to a contracted role rather than full-time employment
Sir Martin Sorrell CEO, WPP
Sorrell, whose company WPP owns 20 per cent of Chime, has misgivings about the planned transaction. Last month, he said that Bell's plan represented 'a bad deal for Chime'. WPP also increased its shareholding in Chime last month, buying itself another person on the board.
Peter Bingle Chairman, Bell Pottinger Public Affairs
Bingle left Bell Pottinger Public Affairs last Friday and is understood to be launching his own consultancy, named Peter Bingle Consulting. It is understood that there have been further headcount reductions in public affairs, now led by former Lib Dem strategist Stephen Lotinga. Lord Bell said that Bell Pottinger Public Affairs would remain a 'very important part' of the group.
CEO, Chime Communications
Satterthwaite plans to reinvest the proceeds of the MBO into sectors that are expected to show good growth, such as sports marketing. The group is pursuing a 'transition strategy' to becoming a 'comms and sports marketing business'. Satterthwaite is thought to be strongly supportive of the MBO deal.
Chairman, Bell Pottinger Group
Expected to have a key role in the post-Bell Pottinger Chime
CEO, Good Relations
Has headed Bell Pottinger's full service agency since 2007
Louie St Claire
MD, Harvard Public Relations
Has headed Bell Pottinger's tech brand since January 2011
25% Stake that Chime will retain in the businesses taken by Bell
50% Growth achieved by Chime's sports marketing division
10% Group profit represented by the firms targeted by the MBO
Source: Chime interim management statement, 9 May
This article was first published on prweek.com