Omnicom Completes Merger With Chiat
- Share via
New York advertising agency Omnicom said Thursday that it has completed the previously announced merger of Los Angeles-based Chiat/Day into the Omnicom unit TBWA of New York.
As expected, Bill Tragos, chairman and chief executive of TBWA, was named chairman and chief executive of the merged agency. Lee Clow, managing director of Chiat/Day and the agency’s creative guru, was named chairman and creative director for the merged agency’s North American operations, which account for most of its business.
In all, Chiat/Day employees were tapped for eight of the 12 top management positions.
Omnicom said Bob Wolfe, formerly the No. 2 executive at Chiat/Day, will become a consultant to Tragos under a contract that runs to the end of 1996. Jay Chiat, co-founder of Chiat/Day, is a consultant to Omnicom under a seven-year contract.
Fred Meyer, Omnicom’s chief financial officer, said the merger went smoothly, though it appears that Chiat/Day executives captured key positions.
“I think we chose the people with the most strength for the jobs,” Meyer said. “I don’t want to put prior affiliation T-shirts on these people.”
The biggest entertainment stories
Get our big stories about Hollywood, film, television, music, arts, culture and more right in your inbox as soon as they publish.
You may occasionally receive promotional content from the Los Angeles Times.
