AD Agencies
Nitin Karkare inherits Ulka after merger reorganisation
MUMBAI: When global advertising giants collide, careers get crushed and brands get binned. Nitin Karkare has emerged from the Omnicom-IPG merger reorganisation with a promotion—and a legacy agency that has just lost its surname.
The 38-year veteran has been named chairman of Ulka and executive director at Omnicom Advertising India, a double-barrelled title that reflects both his longevity and the awkwardness of integrating two feuding empires. The catch? Ulka is no longer FCB Ulka. The FCB brand has been retired globally, and the agency Karkare has called home since 1986 now sits under the BBDO group. It is a bit like waking up to find your house has been moved to a different neighbourhood whilst you slept.
Karkare joined FCB Ulka as a management trainee fresh out of business school and never really left—save for a brief sortie to Everest Advertising in the early 1990s, where he managed the Procter & Gamble account before scurrying back to Ulka in 1993. He was named chief executive in 2016, a role he has held through industry upheaval, digital disruption, and now corporate consolidation. Colleagues describe him as calm and composed, which is advertising-speak for “doesn’t panic when the roof caves in.”
His client roster reads like a who’s who of Indian corporate life: Amul, Tata Motors, Zee, ITC, Wipro, Zodiac. These are not accounts you hand to the ambitious upstart. They are the sort of relationships that take decades to build and require the patience of a man who reads Tom Clancy, Robert Ludlum and Frederick Forsyth for fun. Karkare, by all accounts, is that man.
The broader restructuring sees Prasoon Joshi elevated to chairman of Omnicom Advertising India, whilst Aditya Kanthy becomes president and managing director, taking operational command of the merged entity’s India business. Both will report to Sean Donovan, president of the global operation. S Subramanyeswar (known as Subbu, because Indian advertising loves a nickname) takes on dual duties as chief strategy officer for India and chief knowledge officer for Asia. It is a reshuffle that signals serious integration intent.
The Omnicom-IPG merger, announced earlier this year, has triggered a global realignment as the combined entity eliminates overlap and consolidates its creative networks under BBDO, TBWA and McCann. In India, that means saying goodbye to FCB and hello to a new organisational chart. Whether clients notice—or care—remains to be seen.
For Karkare, the appointment is both validation and challenge. He gets to steer Ulka through its most significant identity crisis in decades whilst navigating the politics of a freshly merged holding company. If his four decades of steady hands-on leadership are any guide, he will manage it with the same unflappable demeanour that has defined his career. If not, well, there is always another thriller to read.
AD Agencies
Publicis posts €4.19bn Q1 revenue, 6.4 per cent growth; backs FY outlook
Ad giant signals Q2 acceleration as AI and new deals power momentum
PARIS: Publicis Groupe continues to outperform the industry, delivering a strong start to 2026 under Chairman and CEO Arthur Sadoun. Despite a volatile global macro environment, the company has now outpaced the industry for nearly 20 consecutive quarters.
For Q1 2026, total revenue reached €4,191 million, up from €4,161 million last year, with organic growth of 6.4 per cent. Net revenue, which excludes pass-through costs, stood at €3,460 million, reflecting organic growth of 4.5 per cent.
Exchange rates had a negative impact of €268 million, mainly due to a weaker US dollar and pound sterling. Acquisitions, including Adge.AI and 160over90, contributed an additional €46 million.
Performance across regions was largely positive, with some variation:
- North America, accounting for 59 per cent of net revenue, grew 4.7 per cent
- Europe recorded growth of 3.9 per cent, led by the UK at 6.2 per cent, while France grew 1.6 per cent
- Asia Pacific posted 5.9 per cent growth, driven by China at 11.7 per cent
- Latin America grew 13.3 per cent
- Middle East and Africa declined 5.1 per cent due to geopolitical challenges
AI-powered marketing services, which now make up 86 per cent of the business, grew 5.6 per cent. However, the technology segment, representing 14 per cent of revenue, declined slightly as clients reduced spending on large-scale transformation projects.
Sharing his outlook, Publicis Groupe chairman and CEO Arthur Sadoun said, “Publicis had a very strong start to the year, outperforming the industry for almost 20 quarters in a row despite the volatile macro environment. Organic revenue growth reached 6.4%, leading to 4.5% in net and further increasing the gap with our peers.” He added that the company remains confident of delivering industry-leading performance. “We are confirming our industry-leading organic growth guidance of 4 to 5%, with the 4% rock solid, and a sequential organic growth acceleration in Q2 despite a higher comparable.”
Publicis continued its expansion with the acquisition of Adge.AI in March, followed by 160over90 in April to strengthen its sports and culture marketing capabilities.
Net financial debt stood at €1,156 million at the end of March, reflecting a seasonal shift from the net cash position at the end of 2025. Average net debt over the past twelve months was €1,035 million.
The company has reaffirmed its full-year guidance, expecting net revenue organic growth of 4 to 5 per cent in 2026. It also anticipates an operating margin slightly above 18.2 per cent and free cash flow of approximately €2.1 billion.
With expectations of stronger performance in the second quarter, Publicis remains well positioned to sustain its growth momentum.
