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New CEO at Y&R Advertising

News release
February 7, 2005

Y&R appoints new CEO

Y&R Advertising has appointed Jon Ramage as chief executive officer. Current Y&R CEO Ross Goldsack becomes executive chairman.

Mr Ramage, who is currently general manager at Colenso BBDO in Auckland, takes up his new position in March.

He will be responsible for the day-to-day operations of Y&R in New Zealand incorporating Y&R Advertising, Mediaedge:cia and Wunderman in Auckland and Wellington.

Mr Goldsack says the appointment is the result of growth in the business.

"We have had two very good years with last year's revenue a record for Y&R," Mr Goldsack says.

"We have turned around the business. When I came in we were losing both money and clients but now with a growing client base and increased billings Y&R is in a great position for growth."

Mr Goldsack says the time has come to put in place the future leaders of the business.

"This is a major move for us. Jon is an incredibly good talent with impeccable credentials including 12 years in advertising with O&M and Colenso BBDO.

"While we will be working closely together, Jon's appointment will enable me to focus more on our valued clients as well as taking overall responsibility for the New Zealand business," Mr Goldsack says.

Mr Ramage will become a shareholder in and director of the New Zealand business. Y&R is 30 per cent owned by local investors with the balance held by Y&R Inc.

ends

Issued for Y&R New Zealand by Pead PR

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