Toshihiro Yamamoto, Chairman of the Board, Representative Director and President and CEO, Dentsu Group Inc., transitioned the Executive Officer responsibilities of President and CEO to Hiroshi Igarashi, effective January 1, 2022. Yamamoto will retire from the Chairman and Representative Director roles effective after the approval of AGSM (Anual General Meeting of Shareholders) to be held in March 2022.
Effective the same day, Hiroshi Igarashi became Representative Director, in addition to his Executive roles of President and CEO.
Igarashi was Director, Executive Officer, COO, Dentsu Group Inc., President & CEO, Dentsu Japan Network, Representative Director, President & CEO, Dentsu Inc.
But his is not the only change in the leadership of the Japanese multinational to take place this year. Tim Andree is to become Non-Executive Chairman of the Board, Dentsu Group Inc., effective March 2022.
Andree’s extensive experience with Japan-based multinationals and contributions throughout his tenure to expanding dentsu global operations make him well-suited to the Chairman role points the Group. His focus will be on driving collaboration, alignment, and continued sustainable growth.
This change reflects a new management structure where the Chairman and CEO/President roles are separated.
“This moment ushers in an era of new leadership who will honor the unique strengths we have built in our over 120 years of operations while driving the continuous change required by our employees, our clients, our investors, and society,” noted Igarashi.
“These changes are designed to strengthen governance and advance the reforms and transformation that dentsu has established, to achieve sustainable growth and increase corporate value for Dentsu Group Inc. I have been the proud custodian of dentsu for five years and I am confident that Igarashi, Wendy, and Kuretani will lead our people, our clients, and our business into a new and exciting chapter of change,” Yamamoto said.
Yamamoto has led dentsu for five years and said his retirement comes at an appropriate time, following the diversification of dentsu which has included the completion of the integration of Merkle; the pivot to data, insights, and consumer intelligence; as well as overseeing the transformation of the business and a return to growth. Yamamoto has always been clear about dentsu’s responsibility to society, “we exist to realize a better society by contributing to the growth of our clients, partners, people, and all consumers.”
A deep restrucuturation plan
The changes in leadership come on the heels of a complete restructuration plan announced on 1st Dec 2020, aimed to streamline operations, drive revenue synergies, create efficiency among corporate functions and provide a simplified, integrated and more efficient organization that is easier for our clients to navigate, reducing duplication and complexity across the business.
The plan consisted of simplifying the Group’s structure organising it into four business lines: Advertising transformation, Business transformation, Customer experience transformation, and Digital transformation. And also include a comoprehensive plan to reduce and simplify its structure into four business lines: Advertising transformation, Business transformation, Customer experience transformation, and Digital transformation. This new structure will streamline operations, drive revenue synergies as well as create efficiency among corporate functions.
Dentsu International announced the decision to rationalize the number of brands from 160 to six global leadership brands. This will create a simplified, integrated and more efficient organization that is easier for the clients to navigate, reducing duplication and complexity across the business, said the Japanese multinational.
Four new members of the board to be selected under Andre’s Chairmanship
Under Tim Andree’s Chairmanship , four new Independent Directors will be nominated at the March AGSM to the Group’s Board, with four retirements also to come into effect. The new appointments represent a cross-section of leaders, across a broad range of capabilities including global corporate management, digital, finance and audit to reinforce the governance that is the foundation of future growth.
Other two appointements at Dentsu Inc.
Dentsu Group Inc. also announced the appointments of Arinobu Soga to Representative Director and Executive Vice President (CFO) and Haruhiko Hirate as Executive Vice President (CCAO), who has deep experience working in global healthcare companies to drive their expansion.
No change in Dentsu International leadership, Wendy Clark still at the helm
Management of dentsu international (DI) will remain under the leadership of Wendy Clark, who has steered the business back to growth. Over the 14 months in the role, she has led the transformation of DI to become the most integrated network in the world through simplifying the business around clients and optimizing 160 agency brands to six global leadership brands.
A new President and CEO for Dentsu Japan Network
Norihiro Kuretani will step into the role of President and CEO, dentsu japan network (DJN); he gets to this position from the role of Director, Executive Vice President of Dentsu Inc.
He will work to drive DJN’s ABCDX strategy which focuses on positioning the organization as an integrated growth partner to clients. He has been a key figure in the digitalization of DJN, most notably serving on the board of Dentsu Digital. Over the past 23 / 11 years, he has played an active role in driving forward the DJN strategy which has included the increased stake in Septeni Group, this further strengthens the alliance to make it the most advanced digital marketing partner, for clients in Japan.