Omnicom has announced its new structure and leadership team on the heels of completing its $13.5 billion acquisition of Interpublic Group on Wednesday.
The new holding company, led by John Wren as CEO, is organized into seven core divisions.
Creative arm Omnicom Advertising, which will continue to be led by current CEO and president Troy Ruhanen, includes TBWA, BBDO, and McCann as its three global networks. FCB will roll under BBDO, while DDB and MullenLowe become part of the TBWA network. All three brands will cease to exist.
Omnicom Media, run by Florian Adamski, includes legacy Omnicom agencies OMD, PHD, Hearts & Science, as well as former IPG agencies Mediahub, Initiative, and UM. It is the largest media organization globally by billings.
Duncan Painter will lead the Flywheel Commerce Network and OmniPlus, an upgraded version of the Omni platform, as CEO, while Sergio Lopez remains leading Omnicom Production, which will merge with IPG’s Craft. Luke Taylor will continue to run Omnicom Precision Marketing and Chris Foster will oversee Omnicom Public Relations.
Each division is led by a former Omnicom vet, save for Omnicom Health, which will be led by Dana Maiman (IPG Health) as CEO. She reports to Michael Larson, CEO of Omnicom Diversified Agency Services, who was previously interim CEO of Omnicom Health.
Additionally, all clients will have a dedicated lead, or “client success leader,” that ensures each is getting access to the right set of tools, talent, and capabilities across the network. These execs roll up into Jacki Kelly, chief client and business officer (formerly of IPG) and Andrea Lennon, chief client experience officer (formerly of Omnicom).
George Manas, former CEO of OMD Worldwide, will become chief growth and solutions officer, focused on orchestrating bespoke tech and data solutions for enterprise clients.
Omnicom execs Daryl Simm and Phil Angelastro will stay on as COO and CFO, respectively. Former IPG CEO Philippe Krakowsky will remain as co-president and COO.
All entities with the name “IPG,” such as IPG Health and IPG Mediabrands, have been eliminated.
4,000 jobs on the line
As part of the restructuring, Wren estimates that around 4,000 positions will be eliminated globally. “That’s going to allow us to meet and exceed the synergies that we promised the marketplace last December,” he told ADWEEK.
The job cuts are in addition to the 3,200 roles IPG shed this year ahead of the acquisition, and the 3,000 staffers Omnicom let go after announcing the deal last fall.
The anticipated layoffs, which Wren said are rolling out currently, will bring the total number of eliminated positions to around 10,000, or roughly 8% of the combined organization’s 2024 headcount.
