DDB Worldwide’s global CEO Alex Lubar has exited the agency network as Omnicom moves closer to completing its US$13.5 billion acquisition of Interpublic Group, intensifying speculation about DDB’s future.
Lubar, who has led the network since October 2022, updated his LinkedIn profile to confirm he has taken on a new role as CEO of New York-based brand consultancy FundamentalCo.
Lubar wrote, "Very excited to join Jonny Bauer and the immensely talented team at FundamentalCo; a truly unique operation that understands the power of brand-led value creation,” while thanking DDB staff for “the privilege of leading these last two years”.
Lubar previously spent more than a decade at McCann Worldgroup, running its London operations before becoming president of McCann North America, prior to joining DDB.
DDB confirmed his departure in a statement: “We can confirm that global DDB CEO, Alex Lubar, is departing the business to take up a consultancy role. While this marks a significant change, any further structural or leadership changes remain unconfirmed at this time. We value Alex’s significant contribution to the network and wish him well.”
It is understood that the position of global CEO will not be replaced.
Speculation regarding DDB has been ongoing since late October, when a Latin American trade publication reported the network would be dissolved during Omnicom’s acquisition of Interpublic Group. Since the initial article, Omnicom has declined to comment directly on the speculation.
The statement released by Fundamentalco, which was founded and launched from Blackstone in 2024, also announced that investment manager Quilvest Capital Partners has joined the consultancy as its strategic capital partner. According to the statement, Quilvest will provide the independent consultancy with capital to fuel scaling.
“This is a rare opportunity to back a team that can truly redefine how brand creates enterprise value,” said Ben Sass, partner, Quilvest, in the statement.
The original story filed by Campaign US can be read here.
