Martin Sorrell: Publicis-Omnicom Merger an ‘Arms Race’ Between French and Americans
Posted in: UncategorizedWPP chief Martin Sorrell is continuing to take shots at the merger of rival agency companies Publicis Groupe and Omnicom Group, knocking its planned management structure and its effect on their clients and employees at a conference Monday.
“Structurally, it’s clunky,” Mr. Sorrell said at the annual UBS Global Media and Communications Conference in New York on Monday. He would like to know whether the biggest merger in adland history will result in an “American takeover” or a “French takeover”, he said, equating the situation to an arms race between the Americans at Omnicom and the French at Publicis.
Under the merger plan announced in late July, Publicis CEO Maurice Levy and Omnicom CEO John Wren will serve as co-CEOs for the first two and a half years of the merged company’s existence. After that, Mr. Levy will become non-executive chairman and Mr. Wren will continue as CEO.