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March 30, 2023

Publicis Groupe takes over majority capital in 5 affiliated agencies

Publicis Groupe announced the signing of a final agreement on increasing to 51 pc its participation in the capital of affiliated agencies: Leo Burnett&Target, Starcom MediaVest Group, Optimedia, The Practice and iLeo. Depending on the approval of regulatory authorities, the transaction is expected to be concluded in the first quarter of 2014. “The development on rapidly growing markets is a priority for the group. This transaction is a landmark and a new proof of our commitment for Central and Eastern Europe, where Romania represents a key market,” said Jean-Yves Naouri, Publicis Groupe COO & Executive Chairman – Publicis Worldwide. Respected leaders of the local market, the five Romanian agencies bring together a total number of more than 150 professionals in communication, as they cover together the full range of communication disciplines, from branding to digital communication, PR, creation and media. Teddy C. Dumitrescu and Stefan Iordache will further coordinate the Romanian operations as CEOs. The management of companies remains unchanged. Plus, Teddy C. Dumitrescu will also fulfil the role of Country Chairman for Romania with Publicis Groupe. In operational terms, the management will report to Tomasz Pawlikowski, Chief Executive Officer for Central and Eastern Europe Publicis Worldwide.

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