WPP, headed by CEO Sir Martin Sorrell, said that the group had been created to take advantage of the industry's economies of scale, which is critical to getting a better deal for clients, who will benefit from Group M's combined buying power.
The group will be headed by Irwin Gotlieb, CEO of MindShare Worldwide, who takes the CEO role, and Rupert Day, chief financial officer at MindShare, who will take the chief financial officer role. Gotlieb's role at MindShare Worldwide will be taken over by Dominic Proctor, currently based in London as the chief operating officer of MindShare Worldwide.
In a statement, WPP said: "Each management will be empowered and accountable for [profit and loss] delivery and for ensuring that we maintain client confidentiality and conflict sensitivity as the businesses move more closely together.
"We operate in a business where scale and volume is critical. Scale translates to trading effectiveness for the benefit of our clients. It also allows us to develop and utilise better tools, systems, and research to improve the quality of our service to our clients."
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