The Cabletelevision Advertising Bureau announced Monday that Joseph Ostrow
has agreed to stay on through May.
Ostrow had initially been expected to step down March 31, but the CAB's CEO
search appears to be taking longer than expected, industry sources said.
CAB chair Kim Kelly, the Insight Communications Co. Inc. president who is
also chairing the CAB search committee, said in a prepared statement that the
contract extension will enable the trade group to "operate at full capacity
during the critical upfront planning season while the selection process for
Ostrow's successor is concluded."
She added, "We are extremely pleased that Joe has given us the additional
time needed to select the person best qualified to lead the CAB."
The short CAB statement also indicated that the search committee and
headhunter Korn/Ferry International are considering "several candidates" for the
post Ostrow has held since 1994.
While neither Kelly nor other CAB officials nor Korn/Ferry would name names,
other industry sources have speculated that the short list may be down to Erica
Gruen and Michael Lotito.
Gruen, now a consultant, was an executive at Food Network and ad agency
Saatchi & Saatchi, while Lotito was CEO at Mindport, a Web-based back-office
firm that was folded last fall by its three ad-agency owners.
Some also thought that at least one other unidentified late starter may have
been added to the mix.
Ostrow's multiyear consulting role with the CAB will begin immediately after
his successor comes aboard.