Wednesday, April 21
It came as a shock to learn from AdAge that this famous German agency has filed for bankruptcy. Along with Scholz and Frineds, and Jung von Matt (whose founders came from S&J) this was the agency that could show snobbish Brits that Germany could in fact produce good creative advertising.
Messrs Springer and Jacoby sold a minority stake in the agency to True North in 2000, and Interpublic bought True North a year later. As recently as 2005, S&J won a Cannes Gold Lion for an Olympus TV spot. But a year later, it lost its biggest client, Mercedes -Benz. What went wrong?
The report says that "Mr. Springer and Mr. Jacoby are said to have found it difficult to hand over management of the agency to the next generation, resulting in the frustration and eventual loss of its most talented senior staff". In a comment to the story on the AdAge website, Berry Gelder draws the conclusion that "owners should never underestimate the importance of the next generation".