Carol Reay has settled her legal dispute with Grey - six months
after quitting as deputy chairman and issuing a writ against the
The agreement means Reay will abandon her High Court action alleging
breach of contract.
News of the settlement came in a joint statement issued on Tuesday
It said: ’The claims brought by Carol Reay against Grey Advertising are
to be discontinued following an agreement reached between them. The
agreement is private and neither party will be making any further
comment in relation thereto.’
Reay left Grey on 13 April claiming that the agency had failed to honour
its obligation to make her chairman from the beginning of that
Her departure followed a less-than-happy and short-lived period as a
member of the senior management team after the Grey-owned Mellors Reay
was rolled into the main agency at the beginning of the year.
The merger propelled Reay’s erstwhile partner,Tim Mellors, into the
creative directorship of Grey and the job of giving the agency a
much-needed creative profile.
Reay was expected to take on a new role as the public face of Grey,
leaving its chief executive, Steve Blamer, US-born and with limited
knowledge of the UK ad scene, to run the agency.
But the partnership failed to gel, with Reay unenthusiastic about the
merger and Blamer uncertain about her commitment to the restructured
Reay, who has told friends that she is uncertain about what her next job
should be, is said to be considering options outside the ad industry.