Source Marketing, Wunderman Effect Changes at the Top
Howard Steinberg, CEO of Source Marketing, Westport, CT, said he will retire by month's end from the agency he founded in 1989. Derek Correia, Source Marketing president since November, will add CEO to his title.
A leading promotional marketing agency, Source Marketing has clients like Time Warner Inc., Philips, Comcast, Sprint, Reckitt-Benckiser, Pfizer Inc., Skyy Spirits and Walt Disney Co. MDC Partners, a Toronto-based agency holding company, in 1998 bought a majority interest in Source.
Meanwhile, Wunderman consolidated its automotive practice worldwide under new agency vice-chairman, Alexei Orlov. Wunderman, a unit of WPP Group PLC's Young & Rubicam, handles interactive marketing for Ford Motor Co., which is allocating more of its ad budget online.
Moving to New York from Wunderman offices in London and Detroit, Orlov will now oversee Ford's Lincoln Mercury brand in the United States. He retains responsibility for Wunderman's Global Ford Group comprising the Ford, Jaguar, Land Rover, Volvo and Mazda car brands.
Orlov reports to Wunderman/chairman CEO Daniel Morel.