According to Timex spokesman Jim Katz: "After 16 years, we feel we wanted to see what else is out there."
The watchmaker, which is based in Middlebury, Connecticut, said that it would begin its review as soon as Fallon completes work on its final assignments. Fallon's duties officially come to an end on December 31.
During its time on the campaign, Fallon has created a string of campaigns for Timex, including the Timex slogan "It takes a licking and keeps on ticking", which was recently reintroduced for the Indigo watch.
The account is estimated to be worth as much as $10m (拢6.35m) although Timex has slashed its adspend in recent years.
Timex also worked with the agency in the UK when it appointed Fallon to create a campaign in July 1999 and again in the following year. However, Timex has spent nothing in the UK since and no longer has a UK agency of record.
Timex dominates the US market with more than 30% of market and sells more watches than the next 18 best-selling brands combined.
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