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One month into the year and JWT, TBWA\London, Euro RSCG and United London have all named new chief executives.
Only one of these agencies has promoted from within, and that's TBWA.
Matt Shepherd-Smith moves up from managing director to chief executive and Neil Dawson becomes the chairman. Internal promotions are usually the sign of a strong agency with a sound succession management philosophy. But the fact that it has taken TBWA nine months to name its new team indicates this might not be the case at Whitfield Street.
Paul Bainsfair, the agency's European chief, has consistently denied that he was looking outside the agency for chief executive candidates.
However, there is no other explanation for the delay in appointing Shepherd-Smith.
2005 was a difficult year for TBWA. The departures of Beattie, McGuinness and Bungay in May blended into a bad news mix which also saw Abbey, News Group Newspapers, Ask.com, five and Thomas Cook move on.
And, under Shepherd-Smith, there was little sign that the agency was bouncing back. Turning around a flagging agency is a slow task, but TBWA's absence from the new COI roster and the Argos shortlist were lost opportunities.