The World: Sydney - Ideaworks' Kulmar takes parting shot at WPP

The departing boss of the retail agency Ideaworks has blasted its owner, WPP, which he claimed was putting profits over building client relationships.

Steve Kulmar said he now regretted selling the agency to Y&R Brands, the WPP subsidiary, three years ago.

Kulmar, who plans to start a rival agency in July, said: "I don't see eye-to-eye with WPP. I'm an entrepreneur and WPP is a huge corporation."

He added: "WPP is heavily focused on profitability, which isn't suitable in the retail marketing space. This sector is about developing trusting relationships, not short-term profits."

Matt McGrath, the Y&R Brands chief executive, said: "I was aware of his frustrations, but Steve and I got on very well. There were no issues between us."