Dentsu announces new structure as a ‘pure holding group’, says there are ‘no green shoots of recovery’ in local market
Dentsu has reported a decline of 12.3% in quarter three of FY2019 and 9.7% in the first nine months of FY2019 for the Australia and Pacific region, excluding Japan. This weakness was driven by Australia and China, according to the company, with “no green shoots of recovery in either market, both of which continue to severely impact the regional and group performance”.
President and CEO of Dentsu Inc Toshihiro Yamamoto also announced that a new group management structure will be effective from January 2020.
The tripe being trotted out is meaningless nothing speak. These guys are in deep trouble. It will take more than a crafted collection of phrases In fluent executese to change fortunes.
Agree with Fourleaf. Saw also the new appointments and structure – good to see diversity at the top. Nearly all Japanese males, with the exception of a couple of British (you guessed it) males. What could possibly go wrong.
Dentsu bought Aegis to give it some international presence and performance (given Dentsu’s utter failure to succeed outside Japan) – reminds me of the old joke… “how do you build a small business? A: start with a big one and sell it to Dentsu”…
…and I think you’ll find that L’Oreal and AHM were “retains” not “wins”….
Exactly. Both those clients knew they had them
over a barrel .
‘ agree to our new terms or you’re fired/we go for pitch ‘
I feel sorry for the poor people working on the accounts .
.. people are unhappy at Dentsu X because they are being forced to work longer, without enough resource, because of crappy client deals done by the CEOs desperate to retain clients
Its a vicous and downward spiral
in fairness the CEOs are over a barrel to win the business… id argue the clients refusing to pay what they should are as much to blame. Always a race to the bottom as everyone wants everything cheap cheap!