On June 3, Mr. Flood took over as president-chief operating officer of the New York agency, which had $105 million in billings last year, up 10.5% from 1994.
FORMERLY AT ALTSCHILLER
The 41-year-old Mr. Flood had been without a job since resigning as exec VP-general manager of Altschiller & Co. after that agency's merger with Boston-based Hill, Holiday, Connors, Cosmopulos in January. He first talked with agency co-founders Saul Waring and Joe LaRosa in 1990, and succeeds Mr. Waring, who will now share the title of CEO-chairman with Mr. LaRosa.
"There are tremendous benefits to be gained by their knowledge," Mr. Flood said.
But Y&R's buyout also fueled Mr. Flood's decision to sign on. He will report to Ed Vick, chairman-CEO of Y&R Advertising, and work with Linda Srere, Y&R exec VP and group managing director. Ms. Srere will act as a liaison between Y&R and Waring.
"The acquisition supercharged things," said Mr. Flood, who earlier in his career was senior VP-director of business development at Y&R.
"We are now part of a first-class multinational agency," he said, noting that Waring's largest client is Fisher-Price, with $50 million in billings.
He is also looking to widen the reputation of Waring. "We have been perceived as a Fisher-Price agency-an agency with a speciality with kids and parenting marketing."
Mr. Flood cites Waring's experience with luxury goods, with Mont Blanc; entertainment, with American Movie Classics; and beverages, with the Perrier Group of America account. "Those accounts really broaden our experience," he said.
NO AGGRESSIVE GLOBAL PLANS
But he maintains Waring won't aggressively pursue any global business.
"As [our clients] grow, we will make our resources available and let them know that we can grow with them. My objective is to profitably and dynamically grow the agency." "He is a tremendous ad man and he has a super ability to work with creative people," said Mr. Waring. "We're in a tough competitive business and our clients have a right to the best there is."
Earlier in his career, Mr. Flood was a management supervisor at three Chiat/Day offices, responsible for Pizza Hut, Royal Caribbean Cruise Line and Intel Corp. accounts.
OUT OF THE MAIL ROOM
In '76, Mr. Flood was a mail clerk for Y&R in Detroit while studying at the University of Michigan. He was preparing to become a lawyer, but was "bit by the ad bug" and dropped out to begin his ad career.
"I did one of those headstrong things that you do when you're 22," he said, adding that the choice has suited him well. "The advertising business allows me to live out several sides of my personality," Mr. Flood said. "It's a very, very creative business but it also requires intellectual and personal discipline."