Omnicom Launches Omnicom Advertising Group (OAG) to Power the Next Generation of Creativity
Rhea-AI Summary
Omnicom (NYSE: OMC) has announced the formation of Omnicom Advertising Group (OAG), a new global organization aligning creative networks BBDO, DDB, TBWA, and agencies within the Advertising Collective. Troy Ruhanen will lead OAG as Global CEO, with Deepthi Prakash as COO and Denis Streiff as Global CFO. This restructuring aims to enhance creativity and accelerate growth through shared investments in innovative tools, technologies, and AI platforms.
Key leadership appointments include Nancy Reyes as Global CEO of BBDO, Alex Lubar as Global CEO of DDB, Erin Riley elevated to CEO of TBWA\Worldwide, and James Fenton as CEO of the Advertising Collective. The changes will take effect on January 1, 2025, with existing clients continuing to be serviced by their current agencies and teams, now backed by OAG's enhanced capabilities.
Positive
- Formation of Omnicom Advertising Group (OAG) aligning major creative networks
- Shared investments in innovative tools, technologies, and AI platforms
- Enhanced ability to deliver world-class creativity and accelerate growth
- Potential for greater opportunities for talent growth and development
Negative
- None.
News Market Reaction
On the day this news was published, OMC gained 0.25%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
- OAG aligns BBDO, DDB, TBWA and the Advertising Collective under one leadership
- Accelerates investments in innovative tools, technologies, and AI platforms
- TBWA CEO, Troy Ruhanen, is elevated to Global CEO, OAG
Bringing these agency brands under one leadership addresses clients' needs for powerful creative solutions like never before. Each will retain its unique brand, culture and people, while capitalizing on OAG's shared and scaled investments in innovative tools, technologies, specialist capabilities, and AI platforms. This foundation will enhance agencies' ability to deliver world-class creativity and accelerate growth, as well as unlock greater opportunities for personal and professional growth for their talent.
The agency networks within OAG will report to Ruhanen and will be led by:
- Nancy Reyes, who was recently promoted to Global CEO of BBDO
- Alex Lubar, Global CEO of DDB
- Erin Riley, who is being elevated to CEO of TBWA\Worldwide from her previous role as TBWA\Chiat\Day US CEO
- James
Fenton , CEO of the Advertising Collective
"OAG will make the best even better. One of the most exciting parts of this new division is that we can collectively invest in innovative offerings – such as Omnicom's recent first-mover partnerships in GenAI," said Ruhanen. "This will take our world-class creativity to the next level and keep our clients at the top of their industries. While we are excited to grow together, we will continue to celebrate and protect the uniqueness of each agency's culture and entrepreneurship."
Over the years, Omnicom has successfully organized its portfolio by aligning its agencies into marketing disciplines to strengthen the depth of its services and enhance collaboration across the group. This includes the formation of world-class Practice Areas such as Omnicom Media Group (OMG), Omnicom Health Group (OHG), Omnicom Precision Marketing Group (OPMG) and Omnicom Public Relations Group (OPRG). Each area now benefits from scaled investment and experimentation as the marketing world transforms.
John Wren, Chairman and CEO of Omnicom said, "Clients want best-in-class talent, innovation and seamless delivery of creative services around the globe. OAG will deliver on that promise while allowing our agency cultures to remain strong and evolve through shared investments and best practices. With Troy at the helm of this new division, I'm confident our creative agencies and all our incredibly talented minds will continue to set the bar for the industry."
Existing clients will continue to be serviced by the agency and teams they currently work with, now with the enhanced capabilities of the wider group. The changes will take effect on January 1, 2025.
About Omnicom
Omnicom (NYSE: OMC) is a leading provider of data-inspired, creative marketing and sales solutions. Omnicom's iconic agency brands are home to the industry's most innovative communications specialists who are focused on driving intelligent business outcomes for their clients. The company offers a wide range of services in advertising, strategic media planning and buying, precision marketing, retail and digital commerce, branding, experiential, public relations, healthcare marketing and other specialty marketing services to over 5,000 clients in more than 70 countries. For more information, visit www.omnicomgroup.com.
View original content:https://www.prnewswire.com/news-releases/omnicom-launches-omnicom-advertising-group-oag-to-power-the-next-generation-of-creativity-302230692.html
SOURCE Omnicom Group Inc.
FAQ
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