Madison was among numerous ad agencies and a group of broadcasters raided by the CCI on suspicion of collusion over advertising rates and discounts
Both will report to Prasanth Kumar, CEO of GroupM South Asia.
Coca-Cola conducted one of the longest global reviews (over nine months), resulting in the industry’s biggest-ever pitch, where WPP won the majority of the $4.2 billion Coca-Cola business.
Apart from India, the SEC order also documents other schemes and internal accounting control deficiencies related to WPP's subsidiaries in China, Brazil, and Peru. The issues relate to a period between 2013 and 2018.
WPP implemented an aggressive business growth strategy that included acquiring majority interests in many localized advertising agencies in high-risk markets.
Rose, who will join WPP board on April 1, became Microsoft UK CEO in 2016 after working as managing director of the UK consumer division at Vodafone.
The British owner of the JWT and Ogilvy agencies has lost 40 percent of its value in the last year and been forced to cut its sales and profit forecasts after it lost some major clients and others cut their spending.
WPP said the new Wunderman Thompson would be positioned to provide the whole range of advertising services, including creative work, data, commerce, consulting and technology to support its customers.
WPP, being rebuilt by new boss Mark Read, said it believed in the potential of the Kantar data analytics business but said that given its many priorities it thought it could run the unit better with a financial or strategic partner onside.
The 51 year old former board member and digital boss replaces Sorrell who quit in April over a complaint of personal misconduct, which he denied, and following a year-long sharp downturn in trading due to fierce competition.
Bain said on Tuesday WPP had now agreed to sell its ADK shares for 3,660 yen ($32.53) each, the same price it rejected last month.
Martin Sorrell, the founder and head of the British firm, said clients seeking to drive down costs had made the advertising industry ultra competitive when bidding for new work, leading to contract losses from the likes of VW and AT&T.
Shereen Bhan, Managing Editor of CNBC-TV18 catches up with Sir Martin Sorrell, CEO of WPP at the World Economic Forum held in Davos and Mark Earls, HERDmeister – Author & Consultant, speaks to Storyboard‘s Editor, Anant Rangaswami about planning as a discipline, his concept of targeting the herds and the potential that India as a country holds.
Founded in 2007, MediaCom India became a joint venture in 2008 and over the last eight years, MediaCom India has established itself as one of the top five media agencies in the market in terms of market share.
‘Necessity is the mother of invention’, goes the age old adage. At India’s largest global flexible packaging solution ...
‘Necessity is the mother of invention’, goes the age old adage. At India’s largest global flexible packaging solution ...
Watch the interview of Martin Sorrell, Founder &CEO of WPP with Shibani Gharat on CNBC-TV18, in which he shared his views on the domino effect of Brexit and his experience at Cannes Lions 2016.
Ratan Tata had recently invested an undisclosed amount in Crayon Data. "Together, GroupM, Mindshare and Crayon Data aim to map the taste of millions of Indian consumers, which will allow enterprises to target consumers more precisely," the company said in a statement.
Britain's WPP reiterated its full-year net sales target on Monday after posting an acceleration in third-quarter trading due to easier comparatives and solid demand in Europe and the United States. Third-quarter like-for-like net sales growth hit 3.3 percent, compared with 2.3 percent in the first half.
Anant Rangaswami of CNBC-TV18 talks to Sir Martin Sorrell, CEO of WPP on the need for globalising and localising, lessons for marketers, simplifying the organisational structure and many more subjects.
WPP, the world's largest advertising and marketing communications group, is expecting a revenue growth of 10 percent in India this year.
After years of double-digit growth, China is slowing and its growing pains have triggered a rethink among businesses around the world.
Storyboard this weak features 1] Sir Martin Sorrell of WPP on the growing emergence of new media companies; 2] FCB's Jonathan Harries on Rohit Ohri's appointment as group Chairman and CEO of FCB Ulka and; 3] the Advertising Agencies Association of India honours Bobby Sista with the Lifetime Achievement Award.
HDFC Bank is ranked at 74th position in the BrandZ list compiled by Millward Brown, a global research agency, in association with WPP. As per the report, the bank is the India's most valuable brand with a value of USD 14 billion.
Apple has reclaimed its crown as the world's most valuable brand, worth a staggering USD 247 billion, according to WPP and Millward Brown.