In a possible case of getting booted up, Jordan Rednor is stepping out of his role as president and coo of Chicago-based DraftWorldwide for an unspecified position at parent company Interpublic Group. The move comes amid reports that Rednor, a financial specialist, was being removed as a result of acquisitions that haven’t panned out. DraftWorldwide officials wouldn’t comment on the reasons for the move, although the agency has suspended the aggressive acquisition strategy that made it one of the most active market consolidators in the industry (June PROMO). In recent years, Draft bought companies such as The Sloan Group and Group III promotions, and took over Columbian Advertising from sister company Lowe Lintas.
Rednor, a former Chemical Bank executive, joined DraftWorldwide in 1997 and took over as president in 1998. DraftWorldwide officials say there won’t be any solid plans on whether or not to replace Rednor until after Labor Day weekend.
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