FR:PUB – The News Desk

Publicis Names EMEA Chief Loris Nold as New CFO

16Nov

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World

Publicis Names EMEA Chief Loris Nold as New CFO

Publicis Group appointed Loris Nold, the current head of its operations in Europe, the Middle East and Africa, as chief financial officer, replacing Michel-Alain Proch.The Paris-based advertising group said Proch, who joined the company in 2021, will step down in February to take on a new role outside the company. Nold’s appointment is effective from the same month, the company said Thursday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Omnicom Buys E-Commerce Shop Flywheel Digital for $835 Million

Advertising holding company Omnicom said it has agreed to acquire Flywheel Digital for a net cash purchase price of approximately $835 million, in what it says is its biggest acquisition ever. Flywheel is the digital commerce arm of Ascential, a U.K.-based business-to-business media, events and analytics company that owns the Cannes Lions advertising festival. Flywheel offers services designed to help brands sell on digital marketplaces operated by companies including Amazon.com, Walmart and Alibaba.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

‘Disappointed Again’: Ad Companies Suffer as Tech Firms Clip Spending

Some of the major advertising holding companies are still feeling the impact of lower spending from technology clients—with some hit harder than others.Recent quarterly results from Interpublic Group, Omnicom Group, WPP and Publicis Groupe showed that many of their units are seeing more caution from some advertisers, slower project work, delayed starts of new business or other signs of a pullback.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8