Omnicom Group Inc. (NYSE: OMC) announced that Michael Birkin is stepping down as chairman and CEO of the company's Asia Pacific group and will be succeeded by Tim Love, according to reports Monday.
Birkin, who also had served as Omnicom Group vice chairman, is leaving to make a majority investment in events company RPMC, which is based in
Love, who remains a vice chairman of Omnicom, will serve as CEO of the company's Asia Pacific,
Serge
Shares of Omnicom stock rose 11 cents to close at $31.89.
Omnicom Group is the world's second-largest advertising and marketing conglomerate and one of of the "Big 6" advertising holding companies, along with WPP Group plc, Interpublic, Publicis, Dentsu and Havas. Its major holdings include the advertising agency networks BBDO, TBWA Worldwide, and DDB Worldwide; and PR agency holdings Brodeur Worldwide, Fleishman-Hillard, Ketchum Inc., Luntz-Maslansky Strategic Research and Porter Novelli.
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