The founders of FRCH Design Worldwide are restructuring the multidisciplinary US group at a senior level to transfer ownership to the next generation.
A year ago, FRCH announced plans to introduce eight new partners to facilitate ownership transition (DW 30 May 1997).
They form the basis of the new management committee, which is directing growth, setting policies, overseeing operations and taking responsibility for fiscal well-being.
Management committee members, “will be invited to share in the firm’s ownership… by buying stock in the privately-owned company”, says a spokesman.
Chief operating officer and president Kevin Roche becomes chief executive officer and president. Founder, chief executive and chairman James Fitzgerald continues as chairman. Edward Hambrecht and Robert Novak remain as vice-chairman and senior vice-president.