Word: havings
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Dates: during 1980-1989
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How could a firm long heralded for its go-go brilliance stumble so badly? Somehow the company that transformed the advertising industry worldwide during the 1980s seems to have lost its alchemist's touch. Deepening the management mystery, Saatchi & Saatchi profits fell while its global advertising business continued to thrive...
Industry and financial experts could only conclude that the problem lay with the company's founders, brothers Charles and Maurice Saatchi. Over the past four years, both men have increasingly withdrawn from the firm's day-to-day * oversight. Charles, 46, has spent much of his time becoming one of...
The Saatchis seem to have reached the same conclusion. In October the brothers announced that they were in effect demoting themselves and bringing in new management to salvage the firm. Their choice for savior: Frenchman Robert Louis-Dreyfus, 43, former president of IMS International, a New York City-based pharmaceutical...
By hiring Louis-Dreyfus, the Saatchis have harked back to the skill that transformed their small agency in London's Soho district into an international behemoth: hard-nosed financial know-how. The Iraqi-born brothers convinced London investors a decade ago that the ad business was an intriguing play. The...
Until the brothers hit the apex of the ad world, no one questioned their claim to have a grand strategy that would turn their empire into a finely tuned global machine. But the first crack in that facade occurred in January 1986, just two months before the purchase of Bates...