Ex-Cordiant finance chief resurfaces at Taylor Nelson

LONDON – Andy Boland, the former finance chief of Cordiant who helped steer through its sale to WPP Group last year, has resurfaced as the finance director of research firm Taylor Nelson Sofres.

Boland, who earned a salary of £250,000 at Cordiant Communications, was the subject of shareholder outrage while at the beleaguered advertising group because of large bonuses paid to him and former chief executive David Hearn.

Cordiant shareholder Active Value had promised to bring legal action against him and others to recover losses shareholders had suffered. The move reflected indignation at payments made to Hearn, who walked away with over £1.5m, and Boland, who received over £580,000.

Boland is taking over from David Lowden, who was promoted to chief operating officer in October.

The appointment of Boland came as Taylor Nelson told investors it was on track to meet forecasts for growth in turnover in 2003.

Last year the UK-listed market research firm, which researches consumer trends, television audiences and advertising effectiveness, won the battle to buy rival company NFO WorldGroup from cash-strapped US advertising giant Interpublic Group.

Taylor Nelson agreed a cash and shares deal worth $425m (£263.8m) with Interpublic, the world's second-largest advertising group. It beat out rival bidders including Carat-owning Aegis Group and French media firm Ipsos. United Business Media and WPP Group had dropped out early on.

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