Publicis Mojo executive chairman and industry heavyweight Graeme Wills is tipped to be putting together a new communications start-up after he leaves the agency.
Wills declined to comment about his future plans when approached by AdNews, but the industry has been hot with speculation that he plans to launch a new business within the marcomms sector.
There have been suggestions from the market that the start-up will be a creative venture, however it is unclear whether the company will look like a traditional creative agency.
While he won’t say a word about any venture, it is widely known within the industry that the Mojo chairman will be leaving the agency before the end of the year, having sold his stake in the agency to French group Publicis.
At the beginning of the year, AdNews revealed exclusively that majority owner Publicis was taking outright control of Publicis Mojo and ZenithOptimedia, buying the additional 40% stake in the company, which had been owned by local executives like Wills and chief executive Nicholas Davie.
Wills was the single largest local shareholder in the group, standing to earn a hefty payout from the estimated $50 million-plus Publicis was paying for the remaining 40% of the business.
With both Wills and Davie set to leave the agency by the end of the year, former Ninemsn boss and Nike marketer Joe Pollard has been appointed as chief executive of Publicis Mojo. She started in the new role in June, reporting to Publicis Worldwide executive chairman Jean-Yves Naouri.
With the industry looking to Wills for a new start-up company, it is interesting to note that one observer said after Publicis’ takeover plans were revealed: “Despite what anyone says, the industry depends on entrepreneurship and these guys are good entrepreneurs.
“It’s the guys at Mojo, BWM, BMF, Host and The Monkeys that create jobs and opportunities from nothing and that’s what makes this industry go around. Entrepreneurs create opportunities. Big multinationals don’t know how to do it so they buy them.”
This article first appeared in the 24 August 2012 edition of AdNews. Click here to subscribe for more news, features and opinion.
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