Account Service, Growth Functions Split
CHICAGO--Promotional marketing agency Frankel & Co. here has instituted a new corporate structure that splits the shop into two specialized business units.
The first unit, which keeps the Frankel name, encompasses the agency's core promotions and marketing work--including the efforts of its Frankel Marketing Events group --for such clients as McDonald's, Target, United Airlines and Visa. Jim Mack, previously agency president, takes the title of chief executive officer for Frankel.
The second business unit, dubbed New Ventures, will be devoted to development functions. David Tridle, previously chief operating officer of the agency, becomes chief executive officer of the new unit. His duties include exploring growth opportunities through new capabilities, international expansion and acquisitions.
Tridle's unit is expected to shepherd the agency's move toward public ownership, if and when that takes place. Last month, chairman Bud Frankel (who keeps that title under the new structure) said an initial public offering of stock had been delayed until 1999 because of market volatility.
Frankel said the agency is separating account service and development so it can better focus on growth without losing sight of its core business or the needs of its clients.
"As our multinational clients continue to address increasingly complex marketing needs, we as partners must enhance our international reach and expand our integrated service capabilities," he said in a statement.
Executive vice president Don Rose succeeds Tridle as chief operating officer of Frankel. --Scott Hume