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Despite achieving 4 percent organic revenue growth in the third quarter to $400 million, compared to the same period last year, Havas last Thursday issued a warning for the fourth quarter. It is projecting a steep decline as a result of major account losses, such as Volkswagen. During a conference call with analysts, Havas senior management said it plans a strategic reorganization by year’s end. When asked about asset changes, CEO Philippe Wahl said, “Our aim is to accelerate growth in all these divisions (Arnold, Euro RSCG and Media Planning Group),” but he did not elaborate.
MDC Names Prez, Reports Q3 Losses
LOS ANGELES MDC has named Steven Berns president and CFO.
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