Asia-Pacific and US executive chairman Tom Dery told Media that a review is underway to plot growth in Asia. “Kim has got a three-year contract and we’ve had some initial discussions, but no decision has been made,” he said.
Dery’s comments come after reports from three different industry sources about approaches from the agency to fill Walker’s shoes. “As a normal part of our activity, we’re always looking at succession planning,” said Dery, adding that the agency had not given Walker notice, nor vice-versa.
Walker, meanwhile, said that he intends to remain at M&C. “But I think it’s fair to say that we are all man enough to keep our eyes and options open,” he said.
The development comes after M&C reported that revenue dropped by almost six per cent year-on-year for the first half of 2007. Singapore, Thailand and Shanghai each posted losses during the relevant period. Australia also saw a net loss after losing the IAG account, but has picked up Westfield and Abu Dhabi Tourism, while India, Malay-sia and New Zealand also performed well.
“Some of the individual countries are not peforming the way they should, but action has been taken,” said Walker. “David Howell has come into Thailand, there has been a strong new business drive in Singapore and the new management in place in Shanghai is now reaping dividends.”
