In 1988, Ogilvy was ranked the sixth-largest advertising firm in the world. Because of the stock market crash in 1987, O&M suffered a huge blow in the advertising market because it was too slow to make adjustments. In 1989, WPP Group Plc, a leading marketing services company, acquired Ogilvy and Mather for $864 million. By 1991, Ogilvy had 270 offices in four regions. By this time, Ogilvy was taking huge losses and was losing clients regularly. In 1992, WPP brought in Charlotte Beers as CEO.
Charlotte Beers' aim as the CEO
Charlotte Beers grew up in Texas, where she began her career as a research analyst for Mars Company. She then moved to Chicago as an account executive with J. Walter Thompson (pg. 5). After cultivating success, she rose quickly to senior vice president for Client Services. Beers was known for her passionate interest in the philosophy of marketing. In 1979, Beers became the COO of the Chicago agency Tatham-Laird & Kudner. In 1992, Beers was brought in as CEO of Ogilvy. At that time, the company was perceived as