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| Philippe Krakowsky |
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Organically, IPG suffered a 2.9 percent drop in revenues as it heads for a merger into Omnicom.
The specialized communications services group (Weber Shandwick, Golin, DeVries Global, Current Global and IPG DXTRA Health) reported a 6.8 percent plunge in Q3 revenues to $600M. Segment EBITA dropped to 24.2 percent to $59.4M.
In the US, the SC&E operation posted a 10.7 percent dip in Q3 revenues to $413M. It was up 2.7 percent internationally.
On a nine-month basis, the communications group was down 2.7 percent to $1.8B. EBITA dipped 14.8 percent to $150M.
Team Krakowsky took a Q3 $129.5M severance and termination charge to cover the firing of about 800 workers. The nine-month charge tallied $450.8M.
IPG shareholders will own a 39.4 percent stake in the bulked-up Omnicom.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
Prosek Partners brings on Danielle O’Brien as a managing director in its investor relations practice, based in the firm’s New York office.
