Young & Rubicam International was an old and esteemed ad agency when Edward N. Ney took charge as president and chief executive three years ago last week. Y & R was also, in its 48th year, just drowsy enough to have lost $40 million in billings in the previous 16 months and just fat enough to be carrying hundreds of thousands of dollars a year in excess overhead. The agency needed reorganization. Ney brought in new business, pared the Madison Avenue head-office staff by 25%, and led the survivors in a quick-step cadence of work, work, work.
Now Y &...
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