Advertising agency leader Laurent Ezekiel, previously with Coca-Cola at WPP, now moves to Publicis.
In a series of strategic realignments, Laurent Ezekiel, a veteran executive of 16 years at Publicis Groupe, has left WPP to rejoin his former employer. The departure comes amid challenging business conditions at WPP and a leadership transition.
Ezekiel, who served as WPP's chief marketing officer (CMO) and CEO of Open X, a bespoke agency model created for Coca-Cola, is set to take up a new role at Publicis Groupe, the details of which have yet to be disclosed.
The move comes following a significant shift in WPP's client portfolio. Coca-Cola's $700 million North American media business, previously handled by WPP, was moved to Publicis in March. This shift was preceded by Mars and Paramount moving their media briefs from WPP to Publicis.
Ezekiel's departure coincides with the announcement that longtime WPP CEO Mark Read will step down in September, to be replaced by Microsoft executive Cindy Rose. WPP has also confirmed that it will announce a successor for Ezekiel shortly.
Despite Ezekiel's departure, Coca-Cola remains committed to its partnership with WPP. The company praised initiatives like StudioX, a hub that allows Coca-Cola to create thousands of assets tailored for local markets. Coca-Cola has also renewed other major elements of its WPP contract.
Ezekiel joined WPP as CMO in 2019, and during his tenure, he played a significant role in shaping Open X, a unified marketing services model for Coca-Cola that encompasses creative, media, production, social, and influencer marketing.
WPP, however, has faced profit warnings recently, and the company is currently grappling with increased competitive pressures. The company has issued a shock profit warning following sluggish new business and client spending cuts.
This news marks a significant shift in the advertising landscape, with major clients moving their media briefs and key executives changing roles. As these changes unfold, the industry will be watching closely to see how these moves impact the future of these companies.
[1] Coca-Cola Renews Major Elements of WPP Contract (May 2023) [3] Laurent Ezekiel Leaves WPP to Rejoin Publicis Groupe (May 2023) [5] WPP Issues Profit Warning (May 2023)
- The shift in Coca-Cola's client portfolio, with the $700 million North American media business moved from WPP to Publicis, might have been influenced by Laurent Ezekiel's new role at Publicis Groupe, considering his involvement in creating Open X, the bespoke agency model for Coca-Cola.
- In light of Laurent Ezekiel's departure from WPP to join Publicis Groupe, finance experts may examine the potential impact on WPP's assets, given the company's current challenging business conditions and recent profit warnings.
