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Ten months into the job as president of Draftfcb North America, Mark Modesto is out amid a top management shake-up. Modesto, along with the agency’s Chicago CFO Bob Mallers and North American chief-of-staff Bill McCarthy, were escorted out of the Interpublic shop Wednesday night, sources said.
Modesto and McCarthy’s positions have been eliminated, while Draftfcb Chicago’s financial operations will report into the agency’s corporate CFO, Neil Miller, on an interim basis.
Michael Fassnacht, worldwide chief strategy officer, was named president in Chicago, a position that has been vacant since Modesto was promoted in October.
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