A picture is worth a thousand words, they say and this one’s a peach.
It’s Arthur Sadoun and Maurice Levy of course, celebrating Levy’s induction into the American Advertising Federation Hall of Fame. On which Levy has chosen to remind the world that it’s a duo running Publicis Groupe: as chairman of the advisory board he has the same relationship with Sadoun as biggest shareholder Elizabeth Badinter had with him.
Publicis is currently under the cosh, trying to reverse its declining fortunes in the US as is WPP and, it emerges, Dentsu as it saw its organic growth across the piece drop 1.6 per cent in Q1 2019.
Most the the big holding companies are promising better results later in the year although that might be whistling in the wind as stock markets plummet, spooked by US president Donald Trump’s trade wars and other confrontations.
Levy also took time to back Publicis’ acquisition of $4.4bn data business Epsilon, saying he began the process. This is probably welcome for Sadoun who’s beginning to look a trifle exposed as his “transformation” of Publicis, to what looks like a tech-based business, stutters.