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Rebel PFD agents look for premises

21.09.07

Documents confirm that 18 agents at PFD have now given in their notice, reports the Times, the most recent yesterday morning. Combined, the agents claim they account for 75 per cent of PFD’s business.

Together, the “rebel agents” are said to be scouring London for new premises in which to set up a rival firm around Christmas. A property in Covent Garden looks to be ideal. Their spokesman, Anthony Cardew, confirms: "Many of the agents have been increasingly unhappy about what has been happening at PFD. It is their view that although PFD is very profitable, not enough money is being reinvested in the business. When the buy-out didn’t look like it was going to happen, the agents resigned and started thinking of setting up on their own. Yes, they have since worked out a business plan to set up a new agency. They have identified suitable premises but have yet to sign the lease."

As for PFD's new chief executive Caroline Michel. According to the piece, what is clear is that the Chanel-wearing publicist-turned-publisher-turned-MD and wife of Lord Evans turned up for an introductory meeting at PFD last week, but walked into a suspiciously empty office

The Times

PFD Caroline Michel

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