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Publicis CEO Admits Earnings Statement Contains ‘Pure Rhetoric’ And Lousy Results Are His Fault For Being Distracted (PUB)

Maurice Levy 2008

Maurice Lévy the CEO of advertising agency holding group Publicis Groupe, just admitted his company’s lousy results in the last quarter were his own personal fault: He was distracted by the doomed, $35 billion merger with Omnicom that would have created the world’s biggest agency network but collapsed in May.

Publicis — which owns agencies including Saatchi & Saatchi, Starcom MediaVest and Leo Burnett — reported organic/like-for-like revenue growth of just 1% to $2.2 billion (1.7 billion Euros) in its third quarter, which picked up slightly on the previous quarter but was not in line with expectations. Publicis also said the full-year results will be similar to the first nine months — a very low level of growth.

On the company’s earnings call Lévy said the blame for those disappointing results should be placed on him.

“I should take responsibility for that. We have been too much focused on our project [with Omnicom] and we are paying the price for that.”

What makes the confession all the more surprising is that Omnicom also reported quarterly results this week and not only did its boss John Wren barely mention the merger, but the company reported solid earnings.

Lévy referenced this in the call and basically admitted that Publicis was obviously the more interested party in the merger than Omnicom:

“[Omnicom] probably did not believe much in the merger, maybe believing more in the takeover and that has really been the difference.”

Lévy even scolded an analyst for “reading too much into” his statement in Q3 earnings report that read “management was too focused on other plans.” (It’s extremely unusual for a CEO to suggest to analysts that they ignore the verbiage in their own earnings statements.)

Lévy said: “It’s all rhetoric, our ‘other plans’ is pure rhetoric because I was fed up of mentioning the merger and I decided I will not mention any more the merger. It’s pure rhetoric.”

“The only thing which has been keeping us [unfocused] is the merger, far too much. I recognize and I have said it already bluntly at our last call I was personally and my team too much focused on this.”

Now, however, Lévy believes the vast majority of Publicis’ issues are behind it. Other challenges had included a “sharp decline” in analog advertising (down 3.1% in the quarter) and the underperformance of its Razorfish agency.

Publicis says on Nov. 7 it will announce a new 2018 strategy plan aimed at growing the business by more than 100 basis points and its margins by at least 200 basis points over the next four years.

SEE ALSO: TV Broadcasters Ought To Be Worried About The Looming Shift Away From TV Advertising Omnicom Just Described

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PPLNotify is a super simple way of bringing Android notifications to any desktop browser

If you’re looking for a super simple way of receiving Android notifications on your desktop, you may wish to check out a new app called PPLNotify. How it works When you first launch the app, you’ll be asked to enter your email address and then hit ‘Create Account’. I’m not entirely clear why an email address is required here, as you can basically enter any random word@domain.com email (even one that doesn’t exist), with no requirement to validate it. Once you’ve given notification access to PPLNotify within settings (this screen will pop up automatically asking you to tick a box),…

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Behind The Scenes – Great Bear Rainforest

Watch the main video in the link: http://youtu.be/7wWQ-0CKv1M
We filmed this in the Great Bear Rainforest, located on the central coast of British Columbia on Canada’s west coast.

We stayed at Nimmo Bay lodge during the making of this video.
Check out their website in the link: http://www.nimmobay.com

This video would not have been possible with Canada/British Columbia tourism making it possible. They arranged it all, and made it all happen.

For more info on them, check out @HelloBC / @ExploreCanada


Music made by the amazing Tony Anderson! Download the song from the video, “Breakthrough" off iTunes in the link below!


Filmed in 6K on the Red Dragon, with the super slow motion shots done on the Phantom Miro at 500 FPS.

Make sure to follow me on instagram, facebook, and twitter, it's the cool thing to do these days :)

It's also where I let people know how to be involved in my videos.


For business inquiries ONLY, contact me here: devinsupertramp@gmail.com

If You Give A Mouse A Cookie: Behind the Scenes

If you give a mouse a cookie, he's going to ask for a glass of milk. When you give him the milk, it's too late…
(This is a twisted adaptation of the children's story "If You Give A Mouse A Cookie" by Laura Numeroff.)

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Produced by Cinesaurus [http://www.cinesaurus.com]
Concept by Kyle Reardon [http://twitter.com/kylereardon]

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Steven [https://twitter.com/hudsonfilm]
Zimm [https://twitter.com/davidzimm]
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Robert [https://twitter.com/Rob_Speewack]

Music by Dylan Griffin Kane [http://www.aoemetal.com]

Special Effects & Prosthetics: Justin Hammond [http://youtube.com/Boxatronic]
Props & Set Decoration by: Jenn Godwin [http://twitter.com/JennGodwin]
Production Design: Shelby Allman [http://instagram.com/shelallman]

The Tortured: Dylan Griffin Kane [http://www.aoemetal.com]
The Mouse: Meagan Naser [http://twitter.com/meagankn]
Cookie Cougher: Steven Hudson
Milk Spitter: Jesse LaTourette [https://www.facebook.com/LaTouretteJL]
Hair Snipper: David Hudson

PRESS: info@cinesaurus.com

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