Global advertising agency Dentsu has seen its organic revenue drop for the third consecutive quarter registering a 6% fall, continuing an alarming trend seen across 2023.
In a further blow to the Japanese firm, its underlying operational profit has also declined by 10.4% year-on-year, although the group has reported a 1.6% net revenue increase in the third quarter.
These concerning developments have kicked off a chain reaction within the firm’s leadership – which has now initiated a wide-scale restructuring operation which sees Takeshi Sano become CEO of Dentsu Japan, and Andre Andrade become CEO of Dentsu EMEA.
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“The enhanced global management structure unveiled today to support our new ‘One Dentsu’ operating model will accelerate Dentsu’s growth as a people-centred transformation company which shapes society,” Dentsu president and CEO, Hiroshi Igarashi said.
“It will enable us to drive deeper levels of organisational governance, as well as generate value for clients and the world we live in by maximising the unrivalled expertise of our 72,000 people worldwide to solve both our clients’ business challenges and the societal issues beyond them as a business to business to society company.”
There have also been significant changes within Dentsu’s UK business, as it abruptly parts ways with chief operating officer, Nnenna Ilomechina and chief technology officer, Dominic Shine as the group looks to streamline its global operations.
