WILLIAM J. McDONOUGH LEAVES FCB BOARD OF DIRECTORS
WILLIAM J. McDONOUGH LEAVES FCB BOARD OF DIRECTORS CHICAGO, Jan. 2 /PRNewswire/ -- William J. McDonough, who joins the
Federal Reserve Bank of New York as an executive vice president on Jan. 6, has resigned as a member of the board of directors of Foote, Cone & Belding Communications, Inc. (NYSE: FCB), effective immediately. The Federal Reserve System conflict-of-interest regulations preclude his membership on the board of a public company.
Bruce Mason, chairman and chief executive officer of Foote, Cone & Belding Communications, Inc., said, "Bill McDonough has made tremendous contributions to our company since joining the board of directors in 1984. We have benefited immensely from his wise counsel in his roles as an outside director, an active member of the Finance Committee and chairman of the Audit Committee. Bill leaves with our gratitude and enters public service with our best wishes for continued success." It is not expected that a new director will be named to the FCB Communications Board of Directors prior to the Annual Meeting of Stockholders in May. FCB ranks as the 7th largest worldwide advertising company and the third largest agency in the United States. The FCB network includes 176 offices in 40 countries, with worldwide billings, including Publicis-FCB European operations, totalling more than $5 billion. -0- 1/2/92 /CONTACT: Owen Dougherty of FCB, 312-751-7789/ (FCB) CO: Foote, Cone & Belding Communications, Inc. ST: Illinois IN: ADV SU: PER PS -- NY071 -- 6308 01/02/92 17:17 EST
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|Date:||Jan 2, 1992|
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