The last of the top five holding companies, Omnicom, has announced that it is withdrawing from Russia.
A statement from the group says that it is working with local partners to dispose of all of its investment positions in the country, and adds: “We have been planning an orderly process to ensure continuity of services for clients and to provide a future for our Russian colleagues, some who have been with Omnicom for decades. We expect to finalise details shortly.”
Omnicom also stressed a commitment to the safety and well-being of its 200 employees and their families in Ukraine: “We are in constant contact with our Ukrainian agency leaders and supporting our people with much needed humanitarian assistance, including transportation, accommodations, visa and working papers, translation services, relocation support, supplies and medical support.”
It finishes: “We continue to keep our affected colleagues in our thoughts and hope for peace.”