Jeffrey Crasto, president and chief buying officer, MPG India has put in his papers.
Confirming the development, Crasto told Campaign India, "I see no future for myself in the media industry. The current media business model will not last for too long. With all the global pitches going on, the clients will soon expect agencies to guarantee CPRP deliveries, failing which there will be a penalty. Given the razor thin margins we work on, such a move would make it almost impossible for media agencies to grow. I have decided to stay away from the media part of the business and will soon set up a media consultancy starting with three big clients."
Crasto had joined MPG in 2000 as MPG’s media director. He was moved up the ladder to the position of MPG’s president in 2004. Prior to this he was with Contract Advertising where he spent close to nine years.