Interpublic Group's Mediabrands has hired Rick Marroquin, chief marketing officer at Batanga, as managing director of a new division created to handle Hispanic and multicultural media and marketing. The new unit will work with accounts belonging to Interpublic shops Initiative and Universal McCann, which are under the purview of Mediabrands.
While shares of Yahoo! dropped on news of the company's reorganization, analysts spoke highly of the decision to promote CFO Susan Decker to take charge of advertising. Yahoo! still claims the largest audience of any Web portal, but a consensus is building that the company lacks a coherent identity and mission.