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NEW YORK Richard Pinder, recently named sole global leader of Publicis Worldwide, believes that the global recession marks a “rupture” with the past and cries out for a change in advertising business models.
The economic crisis also has prompted Publicis to take a hard look at its more than 200 offices around the world and where possible, combine them with those of sister Publicis Groupe shops, according to Pinder. In addition, Pinder has asked clients seeking cuts in fees to consolidate more business at his network in return, and will send significantly fewer executives to this month’s International Advertising Festival at Cannes.
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