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| Ronn Torossian |
Ronn Torossian has resigned as CEO of 5W Public Relations after various reports that he secretly owned a news site and used it to hammer competitive firms.
“I have become a distraction and the team deserves the freedom to operate in a context-free of noise—noise I personally created,” he wrote in an internal memo acquired by O’Dwyer’s.
Torossian will serve as chairman of the New York-based firm that he founded in 2002.
Long-time staffers Dara Busch and Matt Caiola will lead the firm as co-CEOS.
Busch joined 5W seven years ago from Rubenstein Public Relations and heads the consumer practice.
Caiola is a 13-year veteran and handles 5W’s corporate, technology and digital marketing groups.
They will be responsible for employee relations, client management, and day-to-day decisions of the agency.
Torossian has no interest in selling the firm. “5W is thriving – we have no debt, we are profitable, and are growing. We have zero interest in selling,” he wrote.
5W holds the No. 11 spot in O’Dwyer’s rankings of independent firms with 2020 fees of $38.1M.
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Mar. 6, 2022, by Joe Honick
At the risk of sounding like a naive newbie to the business world, the first two lines of this report speak volumes of what should be of concern. Competition in business, politics and even personal relations is often tough and understandable. What should not be acceptable among those in a field that often yammers for fair treatment and to cleanse reputations unfairly accused is so called "secret" tactics to make competitors look bad and less competent in order to make sales. The reasons are simple: sooner or later it will come back to haunt the practitioners of the secrecy; it becomes a "case history" of what should not be done, at least not in the dark and, finally, admitting my naivete: it is plain wrong. Stepping down only theoretically to "avoid distraction" does not suggest any continuing avoidance of influence.