Indians Fear 'Unileverization' by New CEO
MUMBAI - Rumblings of political and corporate discontent at the feared imposition of a 'Unileverisation' policy have emerged following the recent appointment of expatriate chief executive Doug Baillie at New Delhi-headquartered Hindustan Lever.
Baillie, who successfully whipped the FMCG giant's Latin American units into line, is thought to hold a similar brief for India.
McDonald's Q4 Profit Leaps 53%
OAK BROOK, ILLINOIS - McDonald's reported a 53% increase in fourth-quarter profits, driven by new products and longer operating hours at the chain's US restaurants.
Net income was $608.5 million (€495.7m; £341.05m), up year-on-year from $397.9m. Revenue increased 4.5% from $5.01 billion to $5.23bn.
Ceo Jim Skinner hailed the popularity of late-night hours and new menu items in the US and also reported an improvement in Europe where same-store sales (stores in operation for twelve months or more) rose 2.6%.
Agencies, Clients Agree Remuneration Code
LONDON - Four UK trade bodies - the Incorporated Society of British Advertisers, the Institute of Practitioners in Advertising, the Marketing Communications Consultants' Association and Public Relations Consultants' Association - have agreed joint guidelines on agency remuneration.
The quartet claim The Best Practice Guide to Remuneration to be an advertising industry world first. For further information click here.
SEC Monitor Appointed to Hollinger Board
CHICAGO - US newspaper publisher Hollinger International [H-Intl] has appointed former SEC chairman Richard Breeden as a special monitor after parent company Hollinger Incorporated [H-Inc] shoehorned two nominees onto the H-Intl board.
Stanley Beck and Randall Benson are seen as advocates for former H-Intl chairman/ceo Lord Conrad Black who is currently facing charges of fraud and racketeering. The court-appointed special monitor is intended as a counter-balance to the influence of Black's new representatives.
Chinese Economy Grew 9.9% in 2005
BEIJING - China's economy surged 9.9% year-on-year in 2005 thanks to burgeoning exports. According to some economists, however, that growth figure underestimates the powerhouse driving what could now be the world's fourth largest economy.
The 2005 total is slightly below the revised 10.1% growth figures for 2004 and 2003 (10%). It matches growth of 9.9% in the fourth quarter of 2005, according to numbers released Wednesday by China's National Bureau of Statistics.
ITV Hypes Interactive Programme Content
LONDON - ITV, Britain's largest commercial TV broadcaster, last year received 68 million text messages, phone votes and red button activations from UK viewers - suggesting that the British public is becoming increasingly enthused by interactive response devices.
This underscores the potential for ITV's £8,000 ($14.3k; €11.6k) interactive ad package - for which advertisers receive a shortcode number for twenty-eight days plus free processing of up to 10,000 responses.
EC Approves Adidas' £3.8bn Reebok Takeover
BRUSSELS - German sportswear company Adidas-Salomon received the green light Tuesday from the European Commission for its $3.8 billion (€3.1bn; £2.13bn) takeover of British-owned (but US-based) Reebok International.
The EC determined the takeover would not harm competition in Europe as the two companies have different brand and pricing positions and target different customers.
Reebok shareholders approved the deal on Wednesday.
Executive Revamp at World Newspaper Body
PARIS - The senior management of the World Association of Newspapers has restructured in a bid to respond more effectively to the growing demands of global membership.
Director general Timothy Balding becomes chief executive and his deputy, Eamonn Byrne, assumes the role of business director.
Ali Rahnema, previously vice president of strategy and marketing at The Globe and Mail newspaper in Canada, steps into the new post of managing director.
Data sourced from multiple sources; additional content by WARC staff