Wal-Mart Leaves Draft Out in the Cold

The retail giant has dropped Draft FCB as its ad agency of record, just six weeks after handing it a $580 million account

A month ago, Howard Draft was the unexpected toast of Madison Avenue and a hero within struggling ad agency holding company Interpublic Group (IPG). He was riding high, having snared the $580 million Wal-Mart Stores (WMT) account just months after winning an internal power play that made the direct-marketing executive CEO of the recently merged Draft Worldwide and ad agency FCB.

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