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WPP CEO Martin Sorrell’s search is on for two global CEOs: one to replace Ann Fudge, worldwide CEO of troubled Young & Rubicam, and another for Grey Global Group CEO Ed Meyer’s position—for which sources said, with the exception of one dark horse, internal candidates have been ruled out.
The search for a new CEO at Y&R is proving to be particularly challenging given recent client defections (Sony Electronics, Jaguar and Computer Associates), a relative dearth of proven leadership talent, as well as the possibility that few may be interested in taking on what appears to be a difficult turnaround mission, sources said.
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