Leadership, ownership change at Doner

http://adage.com/agencynews/article?article_id=141141
Mr. Kalter, 62, announced his departure in a memo to the agency this morning, saying he is selling the agency to three of its top remaining executives, Chief Operating Officer David DeMuth, Chief Creative Officer Rob Strasberg and President Tim Blett.

First, the agency's longtime creative force and vice chairman, John DeCerchio, departed the agency and then sued it in a dispute over the size of the payout related to his 32% equity stake in the shop. Mr. DeCerchio said he was owed $55 million over 10 years; Doner said he was owed $51.5 million.

Another partner and 30-plus-year executive at the agency, H. Barry Levine, quit after Mr. Kalter admitted that the agency's pension fund was not in compliance with federal disclosure laws and regulations.