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| Mike Sitrick |
Mike Sitrick has bought his firm Sitrick And Company back from RGP, the Dallas-based management consulting firm. He sold the strategic communications powerhouse for $43.4M in Oct. 2009.
Sitrick praised RGP for living up to its promise that he would have the ultimate responsibility for the strategy, direction, management and operation of his firm. "Their new management wanted to concentrate on their core business, offered to sell me back the business, and I agreed."
In a message to RGP team members, CEO Roger Carlile called S&C “a strong business with a talented team and a distinct identity in the market. Returning it to its leadership is the right outcome for the business, for its clients, for RGP.”
The deal is expected to close within 45 days.
Carlile noted that the S&C divestiture is part of a broader transformation to simplify RGP’s structure. He will concentrate future investments in the services and client relationships where it delivers the greatest impact.
RGP posted a $24.5M nine-month loss on $345.9M revenues for the period ended Feb. 28.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
Institutional Shareholder Services advises investors to vote "no" on a compensation package for WPP chief Cindy Rose at the May 8 annual meeting.
FTI Consulting chalked up a 9.5 percent rise in Q1 revenues to $983.3M, powered by gains in its PR, corporate finance and technology segments.
Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
WPP reported a 6.7 percent drop to $3.1B in Q1 like-like revenues less pass-through costs. CEO Cindy Rose says 'it will take time to outpace historical losses."
