(By Balaseshan) Omnicom Group Inc. (NYSE: OMC), an advertising and marketing company, said its Vice Chairman and CEO of Asia Pacific/India/Middle East/Africa (APIMA), Tim Love, intends to retire at the end of the first quarter.
Love announced his intention to retire after resuming his duties at the company's corporate headquarters in New York, effective January 1, 2013.
During his 40-year career in advertising and brand building, Love has held senior client relationships in the U.S. and abroad and has worked with many of the Fortune 100 companies.
Ahead to becoming Vice Chairman of Omnicom in 2006, Love was President of Global Clients at Omnicom network TBWA Worldwide.
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"Tim has been an important part of our executive team, leading the current phase of our Asia Pacific expansion efforts," said John Wren, President and CEO, Omnicom. "While Tim may be retiring from Omnicom, he will undoubtedly bring his passion for making a difference in the world to the next chapter of his life. We wish him well."
Omnicom is a holding company, providing professional services to clients through multiple agencies. The agencies operate in markets worldwide and provide a range of services, which the company group into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
OMC closed Friday's regular session down 0.31% at $51.47. The stock has been trading between $43.83 and $54.76 for the past 52 weeks.