Media buying giant GroupM has eliminated global CEO roles across its major agencies to streamline operations, according to media reports.
Mindshare’s global CEO, Adam Gerhart, is now GroupM’s global chief client officer, overseeing major accounts and client engagement. Wavemaker’s global CEO, Toby Jenner, has been appointed global chief business officer, focusing on growth and cross-WPP integration. GroupM COO Mark Patterson is now global president of markets and business operations, managing growth in APAC and LATAM regions. Emily Del Groco from McKinsey has joined as GroupM’s global chief commerce officer. All will report to GroupM’s global CEO, Brian Lesser.
During the transition, interim leaders will oversee global operations for Mindshare, EssenceMediacom, and Wavemaker. Agencies will continue operating at the country level under market CEOs.
GroupM’s shift comes as digital advertising dominates, projected to account for 72.9% of total ad spend by 2025, according to its annual report. Agency groups are consolidating to combat competition from tech giants like Google, Meta, and Amazon. For example, Publicis Groupe merged Leo Burnett with Publicis Worldwide, while WPP combined Wunderman Thompson and VMLY&R into VML.
GroupM emphasizes its focus on uniting as one company to help clients navigate the evolving media landscape.
Reference: https://www.afaqs.com/news/advertising/groupm-8643839
