Coca-Cola's agency head and Chief Marketing Officer, Laurent Ezekiel, departs WPP and joins Publicis.
In a significant shakeup in the advertising industry, Laurent Ezekiel, former Chief Marketing Officer (CMO) at WPP, has announced his departure from the company to rejoin Publicis Groupe. The news comes following a series of high-profile client losses and a shock profit warning issued by WPP earlier this month.
Ezekiel, who also served as the CEO of WPP's bespoke Coca-Cola agency, Open X, confirmed his exit from the company. Coca-Cola's global CMO, Manuel "Manolo" Arroyo, confirmed the news, stating that the company is confident in the future of Open X.
WPP is now working to identify a successor for Ezekiel at Open X, with an announcement expected shortly. Meanwhile, Coca-Cola renewed other major elements of its WPP contract in May, suggesting that the relationship between the two companies remains strong despite Ezekiel's departure.
Ezekiel's departure from WPP comes amidst a challenging period for the company. Sluggish new business and client spending cuts have contributed to the profit warning, with the company's CEO, Mark Read, announcing earlier this month that he will step down in September.
The news of Ezekiel's move to Publicis Groupe comes as the company has also won the media briefs from Mars and Paramount, following the departure of their business from WPP. In March, Coca-Cola's North American media account was also shifted out of WPP to Publicis.
Interestingly, Ezekiel was previously employed at Publicis, adding another layer to his return to the company. The details of his new title and role at Publicis Groupe have not yet been officially disclosed.
This article was updated to include a statement from WPP, which confirmed Ezekiel's departure and thanked him for his contributions to the company. The statement also announced that Cindy Rose, an executive from Microsoft, will replace Mark Read as WPP CEO.
As the advertising industry continues to evolve, the departure of a high-profile executive like Laurent Ezekiel is sure to have a significant impact. With new leadership at WPP and a new role at Publicis Groupe, it will be interesting to see how these moves shape the future of both companies.
[1] Source: The Drum [3] Source: Adweek [5] Source: Campaign US
Laurent Ezekiel, in his new role at Publicis Groupe, is expected to bring his extensive leadership experience in the business and finance sectors to the table, likely influencing the company's asset management strategies.
WPP, faced with a challenging period, is currently looking for a successor for Ezekiel at Open X, whose strong business relationships, as demonstrated by the renewed contract with Coca-Cola, are valuable assets the company aims to maintain.
