Is it the calm earlier than the storm because the advert holding firms publish their Q2 outcomes? Omnicom and Publicis have posted double digit Q2 progress, now Interpublic (IPG) has reported 7.9%, down on the others clearly however in opposition to more durable comparatives (IPG carried out higher than its rivals in early 2021.)
On the identical time IPG has shuffled its management pack with Daryl Lee (above), former head of IPG Mediabrands, taking on from Invoice Kolb as world CEO of McCann Worldgroup. Kolb stays chairman. Eileen Kiernan turns into world CEO of Mediabrands.
McCann Worldgroup continues to be in all probability the most important artistic community on the planet and Lee’s elevation is one other signal of media professionals transferring into roles encompassing artistic too. It should instal him because the eventual favorite to take over from IPG CEO Philippe Krakowsky.
Q2 progress of seven.9% is across the stage the opposite advert holding firms are predicting for the complete yr (6-7% to date) and an indication of the slowdown that’s hitting, following the spectacular restoration from Covid. Rampant inflation, provide chain issues, Covid in China and the warfare in Ukraine with its impact on power costs have all conspired to make the financial outlook a lot darker.
Krakowsky says of recent Worldgroup boss Lee: “Daryl is an distinctive thinker, business-builder and chief, who’s as passionate about serving to our shoppers obtain success within the market as he’s about constructing organizations the place our individuals can thrive. Throughout his time main each Mediabrands and UM, he has confirmed that he can construct capabilities and encourage company cultures which might be absolutely targeted on our shoppers, ship progress and innovation, in addition to invite various views into the dialog.”
Of IPG’s Q2 efficiency he says: “Our comparatives are very difficult, and I’ll take that. Lots of that’s simply the mathematics, and I’d reiterate that the momentum within the enterprise is wholesome and the demand for what we do is wholesome.”
