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(May 7, 2001) -- Red Sky, an interactive agency in which Omnicom Group has an 18% ownership stake, has gone through a major management shakeup, including the departure of chairman-CEO Bill Bingham.

According to an internal e-mail posted on the Internet, believed to have come from president and chief operating officer Howard Belk, four top executives resigned during the past week or plan to step down soon.

In addition to Mr. Bingham, they include the company's executive vice president and chief people officer, Steve Mignogna, and senior vice president-sales and marketing, Joe Neely. Another executive, Kurt Franke, believed to be senior vice president-client services, was also leaving the company, according to the e-mail.

A Red Sky representative, confirming Mr. Bignham's departure, said, "In order to continue delivering high quality work for our clients, Red Sky is restructuring its executive team. We believe we are doing the right thing for our clients, employees and shareholders."

The representative gave no further explanation of the departures. The representative also said Bill Konrad, currently managing director of Red Sky San Francisco, will serve as acting chief financial officer, in the wake of the resignation of Mark Schulz, and that other executives, including founder Tim Smith, who is currently chief strategic officer and director, will remain in their roles.

The company that is currently called Red Sky is the result of a merger in March 2000 of Red Sky Interactive and a competitor shop Nuforia. -- Catharine P. Taylor

Copyright May 2001, Crain Communications Inc.

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