Source: Adweek
Publicis Groupe will be sitting out the 2018 Cannes Lions festival. The reason? To save money.
New chief executive officer Arthur Sadoun made his first dramatic mark on the holding company this week by forbidding all of its agencies around the world from participating in awards shows, trade shows or other paid promotional efforts for more than a year.
According to an internal memo written by CEO Frank Voris of Publicis Groupe’s financial services unit, Re:Sources, Sadoun’s company is “looking for 2.5 percent cost synergies for 2018” and hopes to achieve those savings, at least in part, by “eliminating all award/trade shows for the next year.”
The memo notes that Re:Sources “will not participate in any vendor conferences, industry trade shows and/or award shows effective July 1.”
“This is mandatory and exceptions will not be approved. … Award/trade show ban is effective for the entire Groupe, not just Re:Sources,” the memo states.
The news came on the same day Sadoun announced the launch of Marcel, a platform designed to serve more than 80,000 employees in 30 different countries and described as “the first-ever professional assistant that uses AI and machine learning technology.”
