B Com3 Group, Chicago, on May 1 unveiled a worldwide restructuring plan for its two giant media buying groups, Starcom
Worldwide and MediaVest
Worldwide. The two will continue to operate independently in North America and the U.K., but combine in certain other markets, where the merged operation will operate under the Starcom name. A new holding company, Starcom MediaVest Group, was created to oversee the two media buying organizations. The holding company will have a three-person "chief executive team"--two drawn from Starcom and one from MediaVest. Starcom Worldwide CEO Jack Klues, 45, also will be group CEO for the holding company. Starcom Chief Operating Officer Bob Brennan, 41, will be chief operating officer for the holding company. Kevin Malloy, 36, will the holding company's exec VP-international operations and was named CEO of MediaVest North America, a new post, from exec VP-global chief operating officer, MediaVest. B Com3 said MediaVest CEO Mike Moore, 62, will resume an earlier retirement effective July 1, but continue to serve on the new holding company's board.
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Copyright May 2000, Crain Communications Inc.