Team One CEO Departs

Saatchi Will Tap In-house Exec
LOS ANGELES–Following the resignation of Team One Advertising’s co-chairman and chief executive officer Leonard Pearlstein last week, the agency is looking within parent Saatchi & Saatchi to fill his shoes.
According to Team One co-chairman and creative director Tom Cordner, Pearlstein’s replacement will “come from within Saatchi & Saatchi” and should be announced officially by the end of the week. He declined, however, to name the candidate. Pearlstein, who announced last week that he would be leaving the agency Sept. 1, will assist with the transition of his replacement, said Cordner.
Pearlstein, who joined the agency in 1997 to head its flagship $260 million Lexus account and new business efforts, is leaving to revamp his previous entrepreneurial shop, the Pearlstein Group, with an undisclosed flagship client, he said.
“It was a terrific opportunity,” said Pearlstein. “There are some things you don’t want to pass up.”
Pearlstein will open his new office in the Los Angeles area sometime this fall.
“I’m going to miss Leonard,” said Cordner. “The relationship has been great, [but] he’s always been an entrepreneur a creative business guy. We’ll always keep in touch.”
Executives at Saatchi’s New York headquarters did not return calls at press time. Lexus executives could not be reached.
Pearlstein joined Team One in 1997, succeeding Scott Gilbert, who was named chief executive of sister Toyota shop Saatchi & Saatchi, Los Angeles. He had previously handled Hardee’s Food Systems and the launch of Hyundai’s Accent while heading the Pearlstein Group from 1994 to 1997.
Pearlstein was a former U.S. president of Lord, Dentsu & Partners. –with staff report