IPG's Hill, Holliday in Boston, the longtime incumbent on the CVS account, today said it is not participating in the pharmacy giant's review of creative and media chores.
An agency representative issued this statement: "After careful consideration, Hill, Holliday has chosen not to participate in the CVS review. This is not a decision that we take lightly, but it is without question the right decision for our business and our people."
There will be no layoffs because of the split, the rep said.
Officials at the client could not immediately be reached for comment. Boston consulting firm Pile + Co. is overseeing the process, and a Pile exec today offered no comment on the CVS-Hill, Holliday breakup.
CVS spent more than $90 million in domestic measured media in each of the past two years, according to Nielsen.
When the review began earlier this month, Hill, Holliday was invited to defend, along with various other shops that handle portions of the business. The agency initially said it planned to participate.
Creative and media chores are being reviewed separately. The client had said no timetable has been established for the competitions, though sources indicated that CVS intends to conduct the media process first and finish up in March.
Hill, Holliday added CVS to its roster nearly eight years ago. Since then, the company has been one of the shop's largest and most visible assignments, with high-profile work appearing across various traditional and digital channels.
CVS said it launched the review owing to changes in both the retail and media landscapes in recent years.