Omnicom Group makes an ‘orderly’ exit from Russia

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.”

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About Emma Hall

Emma Hall is a journalist and editorial consultant and is the former Europe Editor of Ad Age, where she covered European marketing advertising, digital and media stories. She has written for newspapers including the Financial Times, The Guardian, The Times and the Telegraph, and was previously a section editor at Campaign. Emma started her career in New York as a researcher for a biography of Keith Richards.