After much speculation, WPP has today announced the creation of a new brand experience agency, unifying digital agency VML and creative agency Y&R.
VMLY&R will employ more than 7,000 people and is expected to be fully operational early next year. WPP said it is to be one of the advertising giant’s principal brands, and will be able to deliver a fully integrated digital and creative offering to clients on a global scale.
VML’s Jon Cook will be leading the agency as global chief executive officer; meanwhile, David Sable, former global CEO of Y&R, will support Cook as non-executive chairman.
“I’m thrilled for the VMLY&R team as we start this journey together and harness the best of each agency to deliver culturally relevant world-class work,” said Cook.
“The landscape of our industry is changing rapidly, and we are committed to being an invaluable partner to CMOs around the world. I look forward to leading this unprecedented unification of two exceptional agencies.”
Cook will report to WPP’s Mark Read, who was appointed CEO earlier this month after a tumultuous period following the resignation of former CEO and founder, Sir Martin Sorrell. The news marks Read’s first major move in his plan to simplify WPP’s structure and revive its creative firms.
Commenting on the news, Read said: “VMLY&R will be a powerful brand experience offering and a core agency brand for WPP. VML and Y&R have distinct and complementary strengths spanning creative, technology and data services that make them a perfect match.
“This is an important step as we build a new, simpler WPP that provides clients with a fully integrated offering and easy access to our wealth of talent and resources.”
According to Read, a full strategy update can be expected by the end of the year.
