Former senior Saatchi & Saatchi executive Mike Burns has reached a settlement with his former employer over alleged breach of contract, fiduciary duty and loyalty [WAMN: 12-Jan-06].
Erstwhile worldwide account director Burns, who has been battling the New York advertising agency since early last year, says he is "thrilled" with the settlement which resolves all legal claims and disputes between the two parties.
The acrimonious legal wrangle arose after Burns abruptly left Publicis-owned Saatchi in February 2005, shortly followed by seventeen other staff who worked with him on the $550 million (€433m; £299m) General Mills account.
The mass exodus headed in the direction of Interpublic Group where they launched the One Seven agency, of which Burns is now chairman. The General Mills business, however, remains at Saatchi.
Despite its retention of the account, the agency sought damages of more than $3m from Burns, who countersued claiming it was trying to ensure "he never works again".
Data sourced from AdAge.com; additional content by WARC staff