Dentsu Aegis Network’s CEO is Stepping Down
Dentsu Aegis Network CEO Jerry Buhlmann will be stepping down as Dentsu Aegis Network CEO on 31 December 2018 after serving nine years as chief executive, first of Aegis Group and then Dentsu Aegis Network.
He will be succeeded by Tim Andree, who is executive chairman of Dentsu Aegis Network, member of the board and executive vice president of Dentsu Inc. Andree will be handling both the CEO role and his current responsibilities.
Buhlmann joined Aegis Group in 1999 and was promoted to be CEO in 2010. After the acquisition of Aegis Group by Dentsu Inc., he took on the role of CEO of Dentsu Aegis Network in March 2013.
“After nine years as CEO of Dentsu Aegis Network and before that Aegis Group, I am very proud of what the organisation has achieved in that time. The highlight for me has been working with a group of very talented people and the impact we have been able to make based on strong team work, a supportive parent company and a dynamic culture,” Buhlmann said.
He added that the quality of the executive management team is “exceptional”, and that the business has “strong momentum”. “Dentsu Aegis Network is a critical part of the Dentsu Group’s growth story and with Yamamoto-san leading the group and Andree leading Dentsu Aegis Network, I have no doubt that the future will be very bright as the business moves to the next phase of its development,” Buhlmann added.
Meanwhile, Andree joined Dentsu in 2006 as CEO of Dentsu America. In 2012, he was named senior vice president of Dentsu Inc., and president and CEO of the newly formed Dentsu Network, which consolidated operations outside Japan under one organisation. Under his leadership, Dentsu’s global operations grew organically and through acquisitions such as McGarry Bowen, 360i and Firstborn, among others. He also played a critical role in orchestrating Dentsu’s acquisition of Aegis Group in 2013.
“The remarkable growth and momentum of Dentsu Aegis Network is a credit to Bulhmann and the deep and broadly talented management team that has been cultivated. I have worked hand in hand with Buhlmann and the management team over the years and for this reason, the Dentsu Aegis Network management will move to the next stage with strong continuity and stability. We will continue to evolve as the most collaborative of networks known for its creativity, client focus and innovation,” Andree said.
Toshihiro Yamamoto, representative director, president and CEO of Dentsu Inc. said that Bulhmann had a “bold vision” for Denstu Aegis Network since the start. Yamamoto also added that since 2013, Dentsu Aegis Network has doubled its revenues from £1.8 billion to £3.6 billion and grown “organically” at twice the rate of its competitors.
“The Dentsu board thanks Buhlmann for this great contribution and leadership. I am delighted to appoint Andree as Buhlmann’s successor. Ever since joining Dentsu in 2006, Andree has led the globalisation of the Dentsu Group. As a member of the Dentsu Inc. board and also the executive chairman of Dentsu Aegis Network, Andree has a deep understanding of the business’s market proposition, culture and values,” Yamamoto said.
In its recent financials, the international business, Dentsu Aegis Network, delivered 10.8% on a constant currency basis and 4.6% respectively, partly driven by new business wins in second half of 2017. Meanwhile, Dentsu Group delivered total growth of revenue less cost of sales of 8.0% on a constant currency basis and organic growth of 4.4%. Its Japan business delivered 4.1% and 4.1% respectively, in part, due to an increase in digital-related services, favorable results in subsidiaries and new business wins.