Mr. Blamer on Dec. 15 had said he would
Enforcing the contract
Today's information suggests Grey is in fact enforcing the remaining six months on Mr. Blamer's contract.
Under terms of his contract, Mr. Blamer will be fully compensated in this interim period and he will also receive any additional benefits that vest during the period, the executive close to the matter said.
Grey Global is in the process of being acquired by WPP Group, the parent company of agency networks including Young & Rubicam, J. Walter Thompson and media-buying agency MindShare. WPP's chief executive, Martin Sorrell, is well-known within the advertising industry for his policy of strictly enforcing executives' noncompete clauses. The Grey-WPP deal is expected to close in early this year.