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Landor CEO Clay Timon moves to full-time chairman role

29 April, 2003

Current Landor Associates Chairman and CEO Clay Timon today announced his intention to move into a full-time chairman role as of May 1, 2003. In order to ensure a smooth management changeover, he will remain Chairman until December 31, 2003. Mr. Timon, 59, has led Landor — the leading global brand strategy and design firm — since December 1993. Landor is a division of Young & Rubicam, Inc, which is part of WPP — one of the world's leading global communications services groups.

In keeping with a long-standing succession plan, Craig Branigan, 51, Landor's current President and Chief Operating Officer, will assume the role of CEO and Chairman, effective May 1, 2003 and December 31, 2003 respectively.

"This is an exciting day for Landor as we execute a plan that has been carefully anticipated since Craig was hired in 1996," Mr. Timon said. "He is the right person to lead Landor to the next phase of its growth — he will build on the company's commitment to helping clients transform their businesses through disciplined brand strategy and powerful design."

Landor's core strategic direction under Mr. Branigan will remain focused on building its competitive advantage through long-term client relationships, integrated global services and a balanced approach to branding strategy and design.

A Decade of Growth at Landor

"Clay has been a remarkable leader for Landor and has transformed the way we partner with our clients and think about our business," Mr. Branigan said. "In the last 10 years, Landor has transitioned from operating as a largely project-driven firm to its current model, which is based on building deep and lasting relationships with our clients.

"This philosophy has helped Landor build a stronger, more stable business in a challenging economic environment by enhancing our value to our clients," Mr. Branigan continued. "It has enabled Landor to transcend the role of traditional brand consultant — we work hard to be our clients' strategic business partners."

Landor's client-centered approach also empowered Mr. Timon to direct change throughout the organization itself, including driving revenue growth, extending the firm's global presence and expanding its services. Some of Landor's key milestones in the last 10 years include:

Ø a compounded annual revenue growth rate of 15 percent;

Ø an increase from 15 percent to 51 percent in revenue generated by Landor's top 10 clients;

Ø office openings in established and emerging markets around the world, including Hamburg, Seattle, Cincinnati, Dubai, Singapore, Shanghai and Chicago, as well as a strategic alliance with LKS in Sydney;

Ø the evolution of a holistic approach to corporate and consumer branding, founded on Landor's expertise in:
digital applications
environmental branding
naming and writing

As Chairman through the end of 2003, Mr. Timon will continue to pursue business development and maintain Landor's relationships within the Young & Rubicam and WPP networks. He will also focus on Landor's ongoing client relationships with companies such as Accenture, BP, FedEx, Ford, Frito-Lay, HP, Microsoft and Procter & Gamble.

A Vision for the Future

"Craig has a deep understanding of Landor's business and powerful insight into clients' needs," said Mr. Timon. "He is the right leader to grow our existing relationships as well as build new ones across industries and within the Y&R Inc. and WPP networks."

Addressing Landor's directors at its biannual Board meeting in London last week, Mr. Branigan outlined a vision for Landor that builds on the firm's strengths and forges into new areas of development. He identified the four cornerstones of his vision as:

􀂄 One Landor — a totally integrated company with both global capabilities and local insight;

􀂄 the balanced application of strategic rigor and world-class creativity to empower brands and drive business transformation;

􀂄 continued expansion into new and emerging markets;

􀂄 Brand Engagement — building "from the brand out" to create bottom-line results by infusing the brand throughout every aspect of an organization

After a 20-year career in mainstream advertising, culminating at Young & Rubicam San Francisco where he was Managing Director for 10 years, Mr. Branigan was personally chosen by Mr. Timon to serve as Managing Director of Landor's San Francisco office in 1996. By 1998 he was transferred to Landor's London office as President of Landor Europe before assuming his present role as worldwide President and Chief Operating Officer.

"Craig has consistently proven his ability to build talented teams and manage growth at Landor while expanding our services and capabilities," added Mr. Timon. "While in London he played an instrumental role in developing one of Landor's most powerful strategic tools: our Brand Driver™ process. It's this kind of innovation and drive that will serve Landor well as Craig takes on senior leadership responsibility."

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