Downsizing will make Quadrant better- Bolaji Okusaga
The Managing Director of The Quadrant Company, Mr Bolaji Okusaga, has described the recent shake-up at TQC, which led to the untimely exit of 13 members of staff, including some high-profile officers, as a necessary action to reposition and re-engineer the company.
He noted that the restructuring became imperative because of the prevailing macro and micro economic realities in the country, which is having an adverse effect on the profitability of many businesses, and not necessary a decline in the agency’s fortune as being peddled around.
“The truth of the matter is that clients are spending less and demanding more value, and businesses have got to address these fundamentals if they must survive”, Okusaga said.
“The board looked at the books and felt like we were over-weighted and needed to loose weight. It wasn’t because we were not profitable. But, of course, we have reached our peak and profit was coming down. So, we didn’t want a situation where we were totally in trouble before we act.”
Yet, the shakeup could not have been completely disconnected from the recent equity partnership agreement between Troyka Holdings, the parent company of TQC and Publicis Groupe, a global agency network. “We won’t play the ostrich. We would operate according to global best practices because we belong to a global organization and our revenues are being tracked month on month and people are asking questions”, the Quadrant boss said.
Now, as part of that effort to reshape TQC, the agency has decided to enhance its operating environment and make it even more digitally complaint in line with current market demands. Part of the skills that have been emphasized in the new Quadrant is digital. This indeed is a reflection of the agency’s desire to offer more digital services to its clients.
To this end, Troyka is set to relocate its operational base to the newly constructed Publicis Campus, a 21st century, state-of-art business complex that will become the new home to Troyka’s marketing communication businesses.
The agency has also been re-invigorated by its ownership of, at least, five new Public Relations accounts, most of whom are a direct consequence of its relationship with Publicis. The new mega businesses are Nestle Foods, P&G, Lafarge, Jagal and Fidelity Bank Plc.