Lowe to reward ‘meritorious consultants’
Balki to reward 'consultants' promoted to chairman & chief creative officer, reports S Turakhia.business Updated: Dec 16, 2007 03:03 IST
R Balakrishnan (Balki), national creative director, Lowe, who had a spat with the Lowe management for not considering 'consultants' within the agency to distribute proceeds coming from the sell-out to IPG earlier, has a couple of reasons to Lowe to reward 'consultants' been promoted to chairman & chief creative officer of the agency. Additionally, the management has worked out a way to reward meritorious consultants.
With regard to the dispute over the distribution of proceeds to the 'consultants', Balki told Hindustan Times, "Not all consultants will be rewarded. However, consultants who are deserving and who have performed well have been identified and they will be rewarded appropriately. This way, the issue has been sorted out."
It may be recalled that at the time of sharing the sell-out proceeds, only employees were considered, because of which quite a few 'deserving consultants' did feel left out.
Talking about his new role, Balki says, "I will be heading the agency as I don the new role. Charles Cadell, now CEO and Brent Gosling, chief strategy officer, will be assisting me and working with me closely."
Balki is also a filmmaker who this year released his first feature, Cheeni-Kum – a romantic comedy. He is also working on his next film Pa, which will feature Amitabh Bachchan and Abhishek Bachchan.
Interpublic Group announced the successful completion of the deal to fully integrate Lintas India Private Ltd into the Lowe Worldwide Network in July 2007.
Lintas India Private Ltd was founded in 1969; with IPG holding 40 per cent of the equity (it acquired another 9 per cent in 1998). In July 2007, it also bought out the balance 51 per cent stake in Lintas India Private Ltd.