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The speculation about a successor to Miles Young is over: John Seifert is the new Ogilvy & Mather worldwide CEO, effective immediately. Young will continue as worldwide chairman until Sept. 1, when Seifert also assumes that role.
The 57-year-old Seifert will retain his duties as chairman and CEO of Ogilvy North America, but the agency expects to name a replacement for him in that job.
Last June, when word leaked about the Young's decision to leave advertising for a top administrative post at his alma mater, Oxford University, the news came as a surprise.