Dentsu Group welcomes Hiroshi Igarashi as its new President and CEO
Dentsu Group Announces New Management Structure and Leadership Changes
In a significant move, Hiroshi Igarashi has been appointed as the President and Global Chief Executive Officer (CEO) of Dentsu Group, effective from next year. He will succeed Toshihiro Yamamoto, who will step down on January 1, 2023.
The new management structure and board changes at Dentsu Group, effective from next year, also include Hiroshi Igarashi as the Representative Director. This additional responsibility is part of the restructuring efforts aimed at addressing the company's challenges, particularly in its international business.
Igarashi has been leading Dentsu through a period of restructuring, focusing on the international business that has faced negative growth and financial challenges. As part of these efforts, Dentsu announced plans to cut about 3,400 jobs (approximately 8% of its overseas workforce) as part of cost-reduction and restructuring strategies to address losses and improve profitability outside Japan.
Despite these challenges, Dentsu's Japan operations have shown strong and sustained growth. Under Igarashi's leadership, the company is committed to maintaining its strength in the Japanese market while addressing the issues in its international operations.
Tim Andree, currently the CEO of Dentsu's Japanese Network (DJN), will be retiring from his executive role. However, he will take on a non-executive chairman role at Dentsu Group, subject to approval at the next Annual General Shareholder's Meeting in March. In his new role, Andree will oversee growth across Dentsu Group and work towards collaboration and alignment.
The details of Andree's non-executive chairman role and responsibilities will be determined. The new management structure and board changes will also include Andree's non-executive chairman role.
The next Annual General Shareholder's Meeting at Dentsu Group will take place in March, where these changes will be formally announced and approved.
In summary, Hiroshi Igarashi, as the top executive, is guiding Dentsu through a difficult period marked by overseas performance declines, emphasizing restructuring and cost-saving measures while maintaining the strength of the Japan business. Tim Andree, in his new role, will oversee growth and collaboration across the group. The new management structure and board changes at Dentsu Group are aimed at addressing the company's challenges and positioning it for future success.
[1] [Source for strong and sustained growth of Dentsu's Japan operations] [2] [Source for Dentsu's restructuring efforts and focus on international business] [3] [Source for job cuts as part of cost-reduction and restructuring strategies] [4] [Source for Toshihiro Yamamoto's departure] [5] [Source for Hiroshi Igarashi's appointment as President and CEO]
- Under Hiroshi Igarashi's leadership, Dentsu Group is striving to combine growth in its Japan operations with restructuring its international business, addressing the financial challenges it has faced.
- In an effort to position Dentsu Group for future success, Tim Andree, in his non-executive chairman role, will focus on overseeing growth across the group and fostering collaboration and alignment.
