WPP is merging advertising agency Y&R with digital agency VML to create a new, consolidated agency called VMLY&R.
The new entity, which is set to be fully operational early next year, will number 7,000 staff and will be run by VML global CEO Jon Cook, who takes up the role of global chief executive officer, reporting to WPP head Mark Read.
David Sable, the global chief executive and face of Y&R, will initially take up the post of non-executive chairman before transitioning into a yet-to-be announced role within WPP.
According to the statement, the new combined entity seeks to combine brand experience and brand advertising, drawing on the complementary expertise of VML and Y&R to create connected brands that drive value for clients. This is in a bid to “deliver a contemporary, fully integrated digital and creative offering to clients on a global scale”.
“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,” said Read.
“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 added.
Sable said that VMLY&R has been “nearly 18 years in the making” as both agencies have worked to build two successful brands and develop partnerships together with clients such as Colgate-Palmolive, Dell and the U.S. Navy. “I’m proud of this pinnacle moment as we are now able to provide clients one robust, seamless offering. I look forward to supporting Jon and our VMLY&R client partners as I take on my new role within WPP."
