MAM
Vice, WPP sign multi-million dollar ad deal
MUMBAI: Vice and WPP’s media investment unit GroupM have signed a multimillion-dollar advertising deal that will take advantage of the millennial-focused media company’s international expansion.
Vice co-founder and CEO Shane Smith and WPP CEO Martin Sorrell said that they agreed that millennials were the future. They were under-serviced, and the companies had to create more content.
The particulars of the deal involve Vice working with GroupM to use Vice’s insights, content and data to build an advertising platform across all of Vice’s global multi-screen and over-the-top properties. The deal was announced at the Dmexco conference in Cologne, Germany.
The deal is worth hundreds of millions of dollars in ad spending, according to Smith. A Vice spokesperson later added it is a multi-year, multi territory deal.
GroupM handles over USD 102 billion in advertising billings, according to research company Recma. GroupM said it handles one out of three ads globally.
Sorrell said that there were some difficulties working with Google and Facebook, and that there’ was a need to find another force.
In June, Vice announced plans to expand its presence to 51 territories, including having a TV, mobile and digital presence in India and the Middle East and TV content throughout Africa.
It also will add a 24-hour TV channel in Australia and New Zealand, where it already has a robust digital and mobile presence. Vice’s U.S. cable channel Viceland launched in February 2016, and it’s nightly HBO news show is slated to begin on 10 October.
WPP at present has an 8.5 per cent stake in Vice. At one point, it owned up to one-tenth of the company but has since sold some shares. Source: cnbc.com
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.
