Losing Millions, Podesta Lobbying Firm Folding Up Shop?; D.C. Powerhouse’s Alarming Demise

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Kimberley Fritts, the CEO of the Podesta Group, resigned Thursday afternoon about a week after Tony Podesta stepped down from the lobbying powerhouse he founded.

Sources tell True Pundit the firm has lost numerous clients and millions in billables since U.S. Special Counsel Robert Mueller started snooping around the firm’s links to Paul Manafort who was indicted last week. Wells Fargo and Oracle have vacated Podesta’s firm.

It appears all the talent is in the process of vacating the firm.

We also took note of this from Politico:

Tony Podesta, the firm’s founder, tapped Fritts as his successor when he announced he’d step down as chairman last week, hours after an indictment was unsealed, charging Paul Manafort and his deputy, Rick Gates, with violating foreign lobbying law. The indictment accused Manafort of hiring the Podesta Group to lobby for an ostensibly independent nonprofit that “was under the ultimate direction” of the Ukrainian president, his party and the Ukrainian government.

Fritts had been expected to relaunch the Podesta Group under a new name in the days after Podesta stepped down. But after more than a week of working to hammer out the details of what the new firm would look like, Fritts announced at a staff meeting late this afternoon, that she would resign and start a new firm, exacerbating questions about the future of the Podesta Group and its dozens of employees.

Paul Brathwaite, a Podesta Group principal, said last week that he was leaving to start his own shop, Federal Street Strategies.

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