Kartik Sharma named CEO of Omnicom Media; Sashi Sinha strategic advisor

Omnicom's $13-billion takeover of IPG reshapes India's ad market as Kartik Sharma takes charge, leadership resets unfold, and global job cuts follow the mega consolidation

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With the Omnicom group completing its $13 billion acquisition of the Interpublic group (IPG), creating the world’s largest advertising firm in terms of revenue and the second-largest in the Indian market by market share, Kartik Sharma will be leading the combined entity in the country as its chief executive officer (CEO).

 

IPG, which had its presence in India through IPG Mediabrands, will be combined with Omnicom to be Omnicom Media India. Since July 2020, Sharma has been the CEO of the Omnicom Media group, India. Meanwhile, Sashi Sinha, who led IPG Mediabrands as the CEO, will be the strategic advisor of Omnicom Media India, according to sources aware of the development. 

The sources said Omnicom executives Rishit Mehta and Amardeep Singh will hold the positions of chief financial officer (CFO) and chief operating officer (COO) of Omnicom Media India in the Indian region, respectively.

 

On the Omnicom Advertising side, Prasoon Joshi — who was the CEO and chief creative officer (CCO) of McCann Worldgroup India, and chairman of McCann Asia Pacific — is being elevated as the chairman of Omnicom Advertising India, according to an internal memo of the company. Aditya Kanthy, who led Omnicom Advertising India as the CEO and managing director (MD), is now expected to lead as the president and MD.

 

Industry experts had earlier told Business Standard that this step by the Omnicom group and IPG was majorly a financial merger aimed at cost-cutting and streamlining operations. In line with this, Omnicom Media group CEO John Wren had on Monday said that more than 4,000 jobs would be cut as part of the integration of IPG. Media reports said that mostly administrative roles and some leadership positions would be affected too. These layoffs would account for about 3 per cent of the company’s combined workforce as of 2024, the reports stated.

 

These layoffs come on top of additional job-cuts that both the companies have been working on after the announcement of the deal last year in December.

 

Globally, Phil Angelastro from Omnicom will remain as executive vice president and CFO. Interpublic group of companies’ CEO Philippe Krakowsky, and Omnicom's President and COO  Daryl Simm will become co-presidents and COOs of the combined entity. Additionally, Krakowsky, Patrick Moore, member of the board of directors of IPG, and E Lee Wyatt Junior will join Omnicom’s board of directors, the company said in a statement last month.

 

After IPG Mediabrands is discontinued in India, globally, the company is now said to have six main agency brands — OMD, PHD, Hearts and Science, UM, Initiative, and Mediahub.