Frank Lowe is leaving the London agency that he co-founded in 2006 on the back of former longtime Lowe client Tesco.
Lowe, 68, will keep his stake in the independent shop, known as The Red Brick Road. But he’ll no longer have any day-to-day responsibilities as of Dec. 31, according to agency managing partner Paul Hammersley.
“All the directors would like to thank Frank for everything he has done in setting up and building the agency to date,” Hammersley said, in a statement. “We wish him all the best.”
Lowe, through a representative, declined to comment.
Red Brick Road opened in March 2006, with retail giant Tesco as its first client. Three months earlier, Tesco signaled its intent to shift the business out of the London office of Interpublic Group’s Lowe to a then unnamed startup led by Lowe.
In between, IPG filed a claim with the American Arbitration Association that accused Lowe of using proprietary information to destabilize his ex-agency and former employer.
Lowe denied the allegation and responded with a civil lawsuit in state Supreme Court in New York that accused IPG of defaming him via “false and injurious statements” in the arbitration claim and a related media release. In January 2007, the claims were settled out of court.
Ninety percent of Red Brick Road is owned by six executives: Lowe, Hammersley, strategic partner David Hackworthy and creative partners Paul Weinberger, Sam Cartmell and Jason Lawes. Their stakes are roughly equal, though one is slightly bigger than the other five. The remaining 10 percent is distributed among eight senior executives.
Other Red Brick Road clients include Experian and Magner cider. The agency employs 83 staffers and claims revenue of more than $20 million.