DUESSELDORF--Grey Advertising here has restructured its business, establishing a new holding operation for 10 divisions under the Grey Middle Europe name in a move to work more effectively for its clients. These divisions include the ad agencies, interactive agencies, marketing services and consulting agencies across Germany, the Middle East and Eastern Europe. It also includes media network MediaCom
and its subsidiaries. Grey Duesseldorf becomes the headquarters for Grey Middle Europe, spanning 20 countries.
Bernd M. Michael is CEO of Grey Middle Europe; Peter Schmidt is chief operating officer; and Frank Schmidt, a consultant at McKinsey & Co. for the past three years, is director of corporate development. Michael Hundt has been named managing director of Grey Duesseldorf.
Eastern Europe has been divided into management hubs of four countries each, headed by newly appointed regional directors who also retain their positions as individual market directors.
Copyright January 1999, Crain Communications Inc.