The country’s largest media agency
network, GroupM, will bring together two agencies, Maxus
and MEC, as part of a global restructuring drive. The new agency, which has not been named yet and will come into existence in January 2018, would be led by Kartik Sharma, currently managing director (MD) of Maxus, South Asia, GroupM
said on Monday.
The merger would see the emergence of five key agency brands under GroupM
in India: Mindshare, MediaCom, Essence, a digital-first agency, Motivator, and the Maxus-MEC
Essence, which was acquired by GroupM
globally in 2015, was launched in India
last year as part of the latter’s mandate to focus on the digital landscape in the country. GroupM
said on Monday that it was appointing Anand Chakravarthy, currently managing partner at Maxus, India, as MD of Essence India.
T Gangadhar, currently MD of MEC
South Asia, would transition to the role of chairman, India
and MD, North Asia at Essence, GroupM
said. Both appointments are effective from January 2018.
While Sharma will report to GroupM
South Asia chief executive officer (CEO) C V L Srinivas and Tim Castree, CEO of the new Maxus-MEC
merged entity, Gangadharan will report to Kyoko Matsushita, CEO of Essence
APAC. Chakravarthy will report to Gangadhar and Matsushita.
The changes at GroupM
come as the media agency
network gets future-ready and builds capabilities to address both offline and online advertising
needs of clients.
In a statement, Christian Juhl, global CEO of Essence, said, “India
is an important market for our clients and we are excited to expand our geographic footprint and apply our unique approach to clients here.”