MAM
JWT CEO Gustavo Martinez steps down, Tamara Ingram to replace him
MUMBAI: WPP has released an official notice announcing that JWT CEO and chairman Gustavo Martinez, who recently made headlines for being accused of “an unending stream of racist and sexist comments”, has stepped down from his role, and will be replaced by Tamara Ingram who is currently the chief client team officer at WPP.She will step into Martizen’s shoes as the CEO of the company.
The company statement read: “By mutual agreement, Martinez has resigned in the best interest of the J. Walter Thompson Co. George Rogers succeeds Ingram as WPP’s Chief Client Team Officer with immediate effect, in addition to his current duties as WPP’s Global Business Development Director.”
Tamara Ingram has led the P&G business at WPP since joining the company in 2004; she was previously group CEO of McCann Worldgroup, and her promotion to chief client team officer in 2015 made her one of the most powerful women in advertising.
According to the WPP statement, she will be replaced in that position immediately by global business development director George Rogers, who will occupy both roles.
The move comes a week after Erin Johnson, chief communications officer at JWT, filed a detailed 28-page lawsuit in New York on March 10 claiming, among other things, that Martinez made multiple “racist and sexist slurs.” The suit details numerous incidents, and names other senior executives at the agency that allegedly witnessed the claims or were told by Ms. Johnson that they happened.
Brands
Kotak Mahindra Bank appoints Ramesh Iyer to board
Veteran financier replaces Ashok Gulati, who retires in March
MUMBAI: Kotak Mahindra Bank has announced a change to its board of directors, with independent director Ashok Gulati set to retire at the end of his term on 5 March.
The company said it has appointed Ramesh Ganesh Iyer as an additional and independent director for a four-year term, effective 17 February, subject to shareholder approval.
Iyer brings more than four decades of experience in financial services. He spent much of his career at Mahindra & Mahindra Financial Services, where he served as vice chairman and managing director before taking on the role of president for the financial services sector and member of the group executive board at Mahindra & Mahindra. He retired from the group in April 2024.
During his tenure, Iyer was instrumental in expanding rural and inclusive finance initiatives, scaling the company’s assets and customer base. He also led the creation of subsidiaries in rural housing finance, insurance broking and asset management, and oversaw international joint ventures.
Iyer holds a commerce degree and a doctorate of letters, and currently serves on the boards of several listed and unlisted companies.
The board meeting approving the changes was held in Mumbai on February 17 between 6.30 pm and 6.50 pm.
