Barely one month after its formal merger on October 9, combined oil giant Chevron Texaco has put its global creative advertising business up for review. Its value is unstated but industry watchers are talking in dollar terms of at least seven zeros trailing the first digit.
Under scrutiny will be the global Chevron corporate account (incumbent: Young & Rubicam, San Francisco) while the UK (HHCL & Partners) and continental European ad accounts (divers agencies) for the two formerly discrete companies are also up for grabs.
It is expected that the Texaco brand will continue to be used by ChevTex across Europe, mainly ceding to Chevron in the US. A third brand, Caltex, will survive in parts of Asia and Africa.
News source: CampaignLive (UK)