Fallon founder Pat Fallon dies aged 70

Pat Fallon, founder of the Minneapolis, London and Tokyo advertising agency Fallon, has died aged 70.

"Fallon is deeply saddened to announce the death of its founder and chairman Pat Fallon, who passed away with his family at his side on Friday, November 13," the agency said on Saturday.

Fallon co-founded the agency, originally known as Fallon McElligott Rice, in Minneapolis in 1981 – determined to not only beat the recession but prove you did not need to be on Madison Avenue to run a major advertising agency.

Launching with no clients but appealing to those who "would rather outsmart the competition than outspend them", the outsider mentality soon paid off with Fallon attracting clients including Rolling Stone, Porsche and BMW on its way to becoming a global creative force.

"We are devastated by the loss of our iconic leader," Fallon CEO Mike Buchner said in a statement. "He was our inspiration, our fire in the belly, our eternal conscience and the head of our Fallon family. We will miss him dearly, but are fully committed to living up to the legacy of greatness that he established at the place that bears his name."

Fallon retired as CEO in 2008 but remained the company’s figurehead as its chairman emeritus.

Fallon's friends and industry peers paid their respects on Twitter after the news emerged on Saturday.

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