Marwah quashes DMB&B rumors

Raj Marwah, in the post of chairman and chief executive officer of D'Arcy Masius Benton & Bowles Canada for slightly more than a month, got a baptism by fire last week when he faced a barrage of rumors about the agency.The...

Raj Marwah, in the post of chairman and chief executive officer of D’Arcy Masius Benton & Bowles Canada for slightly more than a month, got a baptism by fire last week when he faced a barrage of rumors about the agency.

The rumors had to do with speculation over alleged financial improprieties at the agency.

Marwah issued a memo to agency staff last Tuesday and decided to meet the questions of journalists head on.

‘To our surprise, we have had calls basically from journalists, but, also, from a couple of suppliers, asking us if there has been any theft or malfeasance in the company,’ he says.

‘There has been no theft, no malfeasance, and no one has stolen a dime. The company is in excellent shape, and has its sights set firmly in the future.

‘We racked our brains about how this sort of thing could have started. Management decided in the light of losses over the last 18 months, we would start by coming clean on the billings we have.

‘We felt that we were not quite a $100-million company as reported in the press a few months ago, but that even by strict revenues, when you capitalize fees, it comes out we felt more to be $70 or $75 million.

‘The joke at the time was, `Where did that missing $30 million go?’ ‘ Marwah says. PS