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Massimo Costa appointed Chairman/CEO of Y&R Italy

24 September, 2002

Young & Rubicam Europe, Middle East and Africa announced today that Massimo Costa, Chief Executive of Lowe Lintas Italy, has been appointed Chairman and CEO of Y&R Group Italy.

Mr Costa joins Y&R today, succeeding Enrico Gervasi, who announced last week that he would be leaving to seek a better balance between his professional and personal activities.

Mr Costa, 42, married with two children, has extensive Italian and international experience in the largest network agencies. In his most recent role, to which he was appointed in 1998, he was responsible for the most important merger of recent years – Lowe with Lintas. During his tenure, the agency achieved considerable business success and international creative recognition.

The new move represents a homecoming for Mr Costa, as he previously spent eight years at Y&R, beginning in 1990 as a Group Account Director and later as Vice-President of the Italian offices. He also became an Executive Vice-President of Y&R Europe, managing such international clients as Colgate-Palmolive and Philip Morris, and taking charge of all Y&R operations in the Middle East.

"Coming back to Y&R is not only a new, attractive and fascinating professional challenge," Mr Costa commented, "it also represents an opportunity to rediscover the company values and resources that have greatly contributed to my human and professional development."

William Eccleshare, Chairman and CEO of Y&R Europe, Middle East and Africa, said: "Everyone at Y&R is delighted that Massimo is rejoining us. He is renowned, both in Italy and abroad, as a hugely talented and disciplined leader with a passion for the highest standards of client service. His management of the Lowe operations has been nothing short of inspirational. I am confident that his return to Y&R will result not only in a further leap forward for our Italian Group but also in a significant contribution to our business across the region, where he will be an important member of my international leadership team."

Mr Costa said there was nothing formulaic about his gratitude to the group he is leaving. "In Lowe Pirella I have had the honour to work with one of the most significant figures, Emanuele Pirella, and an excellent team with professional quality and human insight. Also, the experience has given me the opportunity to better understand the Italian companies and, at the same time, to be part of an international team that has helped to root in me the need for constant attention to and research into the creative product – the most important value in constructing and maintaining successful brands."

Mr Costa started his career in 1985 at McCann-Erickson Italia. He later moved to TBWA before joining Y&R.

Acrobat Document YR_PressRelease_MassimoCostaAppointed_sep02_guidff.pdf

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