If MDC Partners has their way, advertising will soon be an industry of insurgents who live alone in bungalows hidden in various city-centers where advertising normally doesn’t happen. At least that’s the take away from the odd press release they issued today, which seemingly was meant to clear up questions no one asked. We bolded some stuff after the jump, but as far as we can tell, it’s a pointless release you should not waste your precious time reading.
NEW YORK, Feb. 8 /PRNewswire-FirstCall/ — MDC Partners announced today that they have extended and expanded their partnership agreements with the four original partners of Crispin Porter + Bogusky. This comes on the heels of the recent naming of five new partners at the renowned agency. The equity ownership plan with the five new partners is an arrangement that was initiated with the agency in 2001 when MDC became the strategic partner of the firm.
Chuck Porter, Chairman, Alex Bogusky, Co-Founder, Jeff Hicks, President and CEO, and Jeff Steinhour, Managing Partner/Director of Content Management, have all extended their partnership agreements to multi-year arrangements ranging from three to five years. In addition, Chuck Porter continues as Chief Strategist at MDC Partners, and Alex Bogusky takes on the newly created, and recently announced role of Chief Creative Insurgent for MDC Partners.
The five new partners that were recently announced include: Group Account Directors Laura Bowles and Heather Faunce, Executive Creative Director Jeff Benjamin, Director of Integrated Production David Rolfe, and Managing Director of Interactive Winston Binch. The agency’s management team now consists of 12 CP+B partners in Boulder and Miami.
“We are thrilled to bring on board these new partners at CP+B,” said Miles S. Nadal, Chairman and CEO, MDC Partners. “This group of executives represents the talent, skills and leadership that will propel CP+B to a whole new level of success in the future. Additionally, we are elated,” continued Nadal “that we have extended our partnership arrangements with the four original partners, Chuck Porter, Alex Bogusky, Jeff Hicks and Jeff Steinhour. We feel that the partnership between MDC and CP+B is the envy of the advertising industry and a spectacular success story in its own right. These arrangements are a stunning example of our Perpetual Partnership philosophy at work, and further reinforce MDC Partners’ as ‘The Place Where Great Talent Lives’. The renewed partnership agreements and naming of the five new partners, as well as Alex Bogusky’s new role at MDC, are an integral part of MDC’s commitment and dedication to redefine the agency model of the future and lead the network into the age of the creative revolution.”
(Ed’s note: usually when the phrase “model of the future” is used, a large FAIL follows.)