Advertising Age reported Stagwell Group is taking a $100 million stake in MDC Partners, and Mark Penn will become CEO of the White holding company. Wikipedia labels Penn as “an American former pollster, political strategist, lobbyist and author”—although he also toiled at Burson-Marsteller. A peek at the Stagwell Group team indicates Penn won’t be as intolerant of intolerance as his diversity-defending predecessor. A handful of executives from MDC Partners provided anonymous color commentary on the latest events, with one leader declaring, “[T]he problems with MDC have nothing to do with capabilities or talent. They have everything to do with bad decision-making from a board of directors that was utterly clueless and useless most of the time.” Gee, wonder which honcho from the White advertising agencies who sought to bail out of MDC Partners said that. Or maybe a certain Chief Creative Engineer was just mouthing off. At least the board wasn’t engaging in blatant corruption for a change.
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