Cheil-owned Iris gives the impression of an agency engaged in a retrenchment. The departure of longtime APAC CEO Luke Nathans might be seen as a blow, although on the other hand the agency hadn’t achieved great heights under his leadership. Either way, the decision to not replace him signals some scaling back of ambition.
In that light, the agency's 2021 focus on building stronger relationships with fewer clients is logical, and it's impressive that revenue is growing and profitability is strong. The agency has also made some judicious moves for its future.
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