VOLUME 63

Executive Summary – Monthly Recap

Global economic challenges, including the impact of the war in Ukraine, the COVID-19 pandemic, inflation, and supply-chain disruptions, caused uncertainty and volatility in our industry. The tragic war in Ukraine continues, and beyond the horror of this human tragedy, economic fallout likely will go on for years after the conflict ends.
As expected, all major holding companies suspended operations in Russia as a result of unilateral US and international sanctions imposed on Russia, even transferring ownership to local partners or local management. Thousands of Russian employees have been affected. Brand advertisers also massively moved in the direction of stopping all or some of their business in Russia, based on the nature of their work or in light of consumer sentiment and public opinion. Fueled by morality, integrity, and, let’s face it, peer pressure, brands and their agencies unilaterally distanced themselves from Russia in one way or another. Our thoughts and prayers are with the people of Ukraine.
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Newsworthy Reports and Recent Developments

At AMS, we approach the agency management discipline as four distinct but complementary practice areas – Talent, Work and Performance, Financials, and Agency Reviews and Roster Changes – which is how we categorize the following developments.

Table of Contents

Talent……………. page 2
Work and Performance………………… page 6
Article……………………page 4
Financials…………………………. page 8
Agency Reviews and Roster Changes……………… page 10
Disclaimer: The AMS Monthly Industry Update is a summary and analysis of newsworthy agency/client developments picked up in recent trade-related publications and news media.
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