NEW YORK -- GGT Group replaced Wells BDDP Chairman- CEO Frank Assumma today, naming Steve Davis, the former CEO of Y&R Advertising, New York, to head Wells. Wells Chief Operating Officer Adelaide Horton also resigned, although she will remain as a consultant to the agency for a transition period of approximately two months. The leadership moves came as Omnicom Group acted to buy GGT Group.
While there was speculation Mr. Davis' appointment represented a commitment to rebuild Wells, the agency's future is uncertain. Several of its main accounts, including Heineken USA, Georgia Pacific Co. and Hertz Corp., are in conflict with accounts at Omnicom agencies.
Copyright January 1998, Crain Communications Inc.