Aerospace giant Boeing is today (Tuesday) expected to announce the reappointment of Foote Cone & Belding to its $60–$75 million global ad account after a three-month review.
The Chicago office of FCB, say insiders, has beaten off final-round competition from the same city’s BBDO Worldwide and J Walter Thompson to scoop the prize.
FCB Seattle has handled the business since April 2000, but when Boeing shifted its corporate headquarters from that city to Chicago, a review was launched to find a shop in the client’s new home [WAMN: 06-Jul-01].
The anticipated decision goes against early expectations that FCB had little chance of retaining the account after failing to impress senior executives at Boeing. However, the award is a considerable boost for the network, which has lost over $800m in billings since the summer from clients such as AT&T and PepsiCo.
Boeing chairman Phil Condit and vice chairman Harry Stonecipher are believed to have made the final decision. The client is said to be keen to emphasise its diverse range of activities to stop its stock being valued mostly on the fortunes of the airline industry, unsurprisingly given the latter’s current state.
News source: Wall Street Journal