Amid changes in its top marketing ranks, Visa has launched a global review of its media planning and buying, according to sources.
Earlier this week, Antonio Lucio, Visa's chief brand officer, said he was leaving the company to become chief marketing officer for HP Inc., the personal computer and printer company that Hewlett-Packard is spinning off later this year. (The media review began before his exit announcement, sources said.)
Lucio's departure follows that of Kevin Burke, chief marketing officer of core products, who led global and country marketing for consumer and commercial products until leaving in December. Burke, who has not been replaced, moved to payments register service Square as head of customer acquisition.
Visa's global media spending total could not immediately be determined. But in the U.S. alone last year, Visa spent more than $110 million on media, according to Kantar Media.
In the company's last review, in 2008, OMD prevailed when it added Latin America and parts of Europe to its existing responsibility for U.S. and Asian media duties. It's not clear if OMD will defend the business now up for grabs.
In the previous search, four holding companies put forth agencies: Omnicom, WPP Group, Publicis Groupe and Aegis.
OMD declined to comment, referring calls to Visa, which could not immediately be reached.
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