Today we learned that the formerly independent, Minneapolis-based Olson announced the departure of two high-ranking executives in its brand/digital group less than a month after being acquired by ICF International.
The only thing we can confirm are the names of the two who are no longer with the agency:
Capritta joined just over a year ago after managing JWT’s Minneapolis office while Fetrow left Fallon — where he served as art director — for Olson in June 2012.
Despite one tipster’s claim, CMO Mitch Kaplan and CFO Scott Cheney are still with Olson as of this moment — though a source tells us that rumors of a move for Cheney have been floating around the agency thanks, in part, to the fact that changes often occur in financial departments following acquisitions.
Based on what our sources tell us, we don’t believe this was a case of downsizing but more of an internal re-alignment. While the press release announcing the acquisition told of “double-digit” growth during the first seven months of 2014, we hear that much of that growth occurred within units outside brand/digital (Olson Engage for PR, Olson 1to1 for loyalty/CRM, etc.).
No word on follow-ups, though we assume the agency has begun looking for replacements.
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