Publicis Groupe chief executive Maurice Lévy has put on hold plans to retire at the end of next year, after the resignation of David Kenny, managing partner of the holding company’s Vivaki unit and a possible successor for Lévy’s job. Lévy, in a statement said he would “stay on board as long as needed,” at the request of the Publicis’ supervisory board. M. Levy has always been a supporter of Connections and I applaud his move.
The global advertising market is weakening faster than previously feared, according to Maurice Levy, the chairman and chief executive of Publicis Groupe. The holding company chief was quoted on Capital magazine’s website as saying: “The advertising market is locked into a downward spiral. “Since the beginning of the year, the indicators haven’t stopped getting worse. In February, I was expecting a global decline of the order of 3 per cent. It is now accepted that the drop will be even stronger.”