- Young & Rubicam Europe has made two senior level promotions as it builds a senior management team around the new chairman and CEO of Y&R Europe, Bruno Widmer.
As exclusively revealed in Campaign (21 August), Widmer takes over this week from the retiring Fernan Montero. His formal appointment to the post coincides with that of Bert Meerstadt, currently chairman of the Y&R Group Netherlands, who comes to London as president and director of European operations, and Alain Rousset, Y&R Europe's London-based chief financial officer, who will take on the expanded role of Chief Operating Officer, Europe.
In addition to his role as CEO and chairman Widmer remains in place as president of Advico Y&R, Zurich.
Montero, who is in line to collect around $35 million in stock options following Y&R's recent IPO, held the chairmanship of Y&R Europe since 1993 and was credited with rebuilding a struggling operation.
Ed Vick, chairman of Y&R Advertising, said: "The combined expertise and proven talents of Bruno, Bert and Alain place them among the top ranks of European management teams in the marketing communications industry."