LOS ANGELES WPP Group's two media networks, Mediaedge:cia and MindShare Worldwide, are being combined under a media parent company called GroupM. The new entity will manage MindShare and Mediaedge:cia as distinct companies, but will share resources where appropriate, including negotiating the upfront buying season jointly.
The new entity will be led by MindShare worldwide CEO Irwin Gotlieb, who was named GroupM CEO. MindShare COO Dominic Proctor will succeed Gotlieb as MindShare CEO.MindShare CFO Rupert Day will add the title of GroupM CFO.
The GroupM board will include Gotlieb, Proctor, Day, Mainardo De Nardis, Mediaedge:cia worldwide CEO, Mediaedge:cia North American CEO Charles Courtier, MindShare chief strategy officer Nick Emery and Mediaedge:cia CFO Tom Handy.
"We need a mechanism that allows us to operate two business with a consolidated strategy to share resources for the benefit of our clients," Gotlieb said.