Epson is understood to have shortlisted five agencies to compete for the account in a process being handled through the AAR. Leo Burnett has declined to repitch for the business, which is worth £2 million in the UK, according to Nielsen Media Research.
Leo Burnett has held the account for less than a year after it was transferred from the now defunct D'Arcy.
Epson is keen to focus on creating a coherent pan-European strategy.
In the past, it has opted for a mixture of localised and overarching brand strategies.
Separately, Wella's parent, Procter & Gamble, had been expected to award the business to one of its roster agencies - which include Grey Worldwide and Saatchi & Saatchi - following its £2.2 billion acquisition of the German haircare giant in March.
The Wella business is worth £4.5 million in the UK, according to the latest Nielsen Media Research figures. It is expected to be the last account to be shifted from Bates, which is being dismembered before its absorption into WPP Group.
It is not yet clear which Leo Burnett office will run the Wella business.
Wella UK ended its ten-year relationship with Abbott Mead Vickers BBDO in 2001 when Bates UK was awarded the account as part of a global alignment with the network.
It is not yet known if the media planning and buying business, held by PHD, will be moved into a P&G roster media agency.
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