Omnicom Group has named Daryl Simm as its president and chief operating officer, which points to a plan for Simm to potentially succeed John Wren as CEO of the industry's second-largest holding company.
While the timetable of a succession plan is unclear, according to an SEC filing this year, Wren’s employment with the holding company is slated until December 31, 2024, with automatic renewals every year thereafter, “unless either party timely notifies the other of their intent not to renew the Employment Agreement,” the filing states.
Simm who has served as CEO of Omnicom Media Group for more than two decades, is the first president since Wren, 69, was elevated from the position to chairman in 2018.
“Daryl has been instrumental in developing our media network since its inception,” Wren said in a statement, and "has played an integral role in many of our successful investments and initiatives by bringing the power of Omnicom to our most important clients, including the development of Omni, our open operating system that orchestrates better outcomes for clients. Daryl is well-respected across the company and, in partnership with our executive leadership team, has helped us develop our strategy for future growth.”