BackGroupM realigns business strategy with new structure
Firm makes changes in its senior leadership and management
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Mumbai: WPP-owned media investment management firm GroupM, which is also the parent firm of media buying agencies Maxus, Mindshare, MEC, Motivator and Mediacom, said on Monday that it has created a new structure within the organization to focus on enhancing support for its agency brands and maximize value for its clients.
As part of this, it has made changes in its senior leadership and management.
Lakshmi Narasimhan has been appointed as the agency’s chief growth officer for South Asia. He will take charge of the media partnerships and digital teams from 4 May. With this appointment, GroupM has merged the erstwhile CTG group with the GroupM Digital platforms. He was previously the chief executive officer of Web18 till April 2014, the digital unit of the Network18 group.
Tushar Vyas, who has been heading GroupM Interaction, the digital media arm of GroupM, has been promoted to the role of chief strategy officer, GroupM South Asia. Vyas will focus on harnessing data, digital and content to develop products for the future. GroupM said it is working on several initiatives to build new media products, with special focus on e-commerce. Vyas will have a core team of digital product specialists, data scientists and content experts working with him.
Sridhar Ramasubramanian, who has held the post of chief financial officer, will now be the chief operating officer. He will lead not just the financial, commercial and information technology teams but also manage the Bangladesh, Sri Lanka and Pakistan markets. The GroupM chief executive officers (CEOs) of the three markets will report to him.
Ramasubramanian, Vyas and Narasimhan will all report into C.V.L. Srinivas, CEO, GroupM South Asia. Vyas and Ramasubramanian assumed their new roles with effect from 1 May.
“We had recast our growth plans in early 2013 with an organizational transformation programme. This helped us scale new peaks, with 2014 being perhaps our best year till date," said Srinivas.
He said more than anything else, clients today expect their agencies to help them navigate a very complex and uncertain world.
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