Asatsu-DK Inc.’s chief executive officer said he is determined to sever an alliance with top stockholder WPP PLC, seven months after the world’s largest advertising agency called on share owners to vote him out.
CEO and President Shinichi Ueno said in an interview that the two-decade old WPP partnership is over and Asatsu-DK is looking for new tie-ups in the industry, the latest salvo in a battle re-ignited by Bain Capital LP’s $1.3 billion bid to buy the company two weeks ago. The alliance with London-based WPP is finished, whether or not the Bain offer succeeds, Ueno, 63, said Wednesday.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.