Ann Fudge stays ahead of the pack. The chairman and CEO of advertising giant Young & Rubicam Brands was married with a child before she graduated from college, and retired from running a Kraft Foods business with $5 billion in sales annually before she hit 50. She left her hiatus last year to take over Y&R--and step into an unfamiliar industry in flux. Time was, a 30-second TV spot trumped all. But in today's world of fragmented media, commercial cutters like TiVo, and exponentially more goods and services vying for consumer attention, the old rules don't apply. Fudge's plan: to remake...

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