Omnicom is withdrawing from Russia and is working with its local partners to dispose of all of its holdings in the country, reports MediaPost. The company is the fourth major ad group this week to announce plans to exit Russia due to the country’s unprovoked attack of Ukraine.
The move, reports MediaPost, follows Interpublic, Publicis Groupe and Dentsu in exiting the country. “The groups work with local partners and arrangements are being made to transfer assets to those partners in a bid to keep the entities operational without holding group involvement so that local staff can continue to hold jobs. In some cases those partnerships have been in place for decades.
“On March 4 WPP announced that it was discontinuing operations in Russia, the first major ad group to disclose such plans, citing the invasion. WPP acted a day after consultant Accenture, parent of digital agency Accenture Interactive, announced it was discontinuing operations there.
“Havas works in the country via a partnership with local company ADV and has said it is in talks on an asset transfer to the partner.”
Omnicom, based in NYC, is a global leader in marketing communications and its network in Washington, D.C., includes Fleishman-Hillard, Ketchum and GMMB.