NEW YORK -- John Farrell, worldwide CEO of D'Arcy Masius Benton & Bowles, has accepted a top position at Publicis, according to sources.
Farrell has been in negotiations with the agency for at least two weeks regarding a position as worldwide CEO of Publicis' Specialized Agency Marketing Services. That offer came after Publicis Groupe SA, the parent company of Publicis and D'Arcy, announced that it would dissolve the D'Arcy network by the end of this year.
Farrell was in Paris Friday at a presentation by Publicis Groupe SA executives to analysts and could not immediately be reached for comment. On presentation materials at the meeting, Farrell was identified as worldwide president and CEO of Publicis' SAMS and was said to be developing a strategy and 2003 business plan for that group. A D'Arcy representative could not confirm whether Farrell had taken the job.
Farrell's partner at D'Arcy, chief branding officer Susan Gianinno has already accepted a position as CEO of Publicis in the U.S., based in New York. Their creative partner, D'Arcy worldwide chief creative officer Lee Garfinkel is still in discussions with Publicis for the worldwide creative position, sources said.
Garfinkel could not be reached for comment.
Publicis told analysts it expected to save about $60 million in synergies through the integration of Bcom3 and its agencies. The company also said it would take a charge of $90 million in restructuring costs.