"Y&R Advertising is in excellent hands," Mr. Vick said in a statement. "Mike's a smart guy and a good guy." Mr. Dolan starts his new position Nov. 1.
Mr. Dolan joined Y&R in 1996 as vice chairman and chief financial officer. In January 2001, several months after WPP purchased Young & Rubicam, he was named chairman-CEO of the Y&R Group, overseeing Y&R, Wunderman and various diversified agencies such as Landor and Burson Marstellar.
Help from Georgescu
Mr. Dolan will also step down from the WPP board of directors to focus on company matters. To assist Mr. Dolan, Peter Georgescu, chairman emeritus of Young & Rubicam, is acting as a senior adviser.
A top priority, Mr. Dolan said, is developing a stronger alliance between Y&R and Wunderman, the direct marketing company. The alliance "will energize the long-standing relationship between the two companies," Mr. Dolan told employees in an internal memo.
Mr. Vick, who joined Young & Rubicam as chairman-CEO of Landor Associates in 1992, subsequently held various executive positions at Y&R and its parent. Mr. Vick said he is leaving "to begin a new chapter in my life. I think we have accomplished a tremendous amount during my time here, and I'm proud to have been part of it."