Omnicom Group Inc. (NYSE: OMC) today confirmed it is withdrawing from Russia and working with local partners to dispose of all of its investment positions.
It has been planning an orderly process to ensure continuity of services for clients and to provide a future for its Russian colleagues, some who have been with Omnicom for decades. It expects to finalize details shortly.
As the violence and humanitarian crisis continues in Ukraine, Omnicom’s number one priority remains the safety and well-being of its more than 200 colleagues and their families there. It is in constant contact with its Ukrainian agency leaders and is supporting its people with much needed humanitarian assistance, including transportation, accommodations, visa and working papers, translation services, relocation support, supplies and medical support.
Omnicom continues to keep its affected colleagues in its thoughts and hopes for peace.
Katie Beaule [email protected]