CANNES, France—As the United Kingdom's decision to leave the European Union sent aftershocks through global markets today, the ad industry's top leaders were all in the same place to hear the news.
To assemble Adweek's second annual Power List, we considered the profiles and results of global corporate titans, taking into account such criteria as company value, revenue and revenue growth, market performance, consumer reach and affinity, their standing among rivals, the number of employees overseen, key acquisitions and partnerships, industry accolades and media buzz.
In today's fourth-quarter earnings call, IPG CEO Michael Roth offered a cautiously optimistic outlook for 2016 after a 2015 in which the holding company beat its own expectations for organic growth across its agency network.
When it recently came to light that agency Campbell Ewald had for several months quietly tolerated a racist email sent by a creative director, the response from parent company IPG was a swift executive decapitation.
Net income at Interpublic Group grew significantly in both the second quarter and first half of the year, amid modest revenue growth.
Interpublic Group today merged global shop Lowe and Partners with domestic player Mullen to create Mullen Lowe Group. The new operation, which IPG said would be a "creatively-driven global agency network," will be run by Mullen CEO Alex Leikikh. And as Leikikh becomes global CEO, Lowe CEO Michael Wall will exit.
It has been called (by 4A's President Nancy Hill, specifically) the ad industry's "elephant in the room." The issue? Allegations of media agencies pocketing discounts on volume media buys and not sharing the "kickbacks" with clients. Well, now the elephant is finally getting the scrutiny many feel it deserves.
Revenue grew overall and organically at Interpublic Group in the first quarter of 2015, but the company still recorded a net loss.
Interpublic chief Michael Roth stands to gain nearly $42 million should there be a change in control at the holding company, according to the company's newly released annual meeting proxy statement. Of that amount, $12.6 million would reflect severance and $13.5 million in performance shares.
Interpublic Group has named a new head of its IPG Mediabrands division, which oversees media agencies such as Initiative and UM.