????萊維解釋說，萊維和沃倫打算在新公司擔(dān)任聯(lián)席首席執(zhí)行官，任期30個月。這樣做的原因之一是為了“讓客戶適應(yīng)新的組合?！奔幢闳绱耍陆M合本身依然存在風(fēng)險。WPP首席執(zhí)行官馬丁?索瑞爾說：至少在陽獅宏盟通過監(jiān)管審查之前，“聯(lián)席首席執(zhí)行官不會是一個輕松的管理構(gòu)架。”。馬丁是全球最大的廣告控股公司的掌門人。（沃倫說，需要在41個國家拿到批準(zhǔn)。）的確，企業(yè)發(fā)展史上充斥著失敗的聯(lián)席首席執(zhí)行官案例；過分的自我意識尤其會破壞高管之間的關(guān)系，同時損害企業(yè)利益，對于大型跨國企業(yè)來說更是如此?；ㄆ?Citigroup)的桑迪?威爾和約翰?里德便是例子。

????計劃是這樣的，萊維將繼續(xù)在巴黎負責(zé)公司業(yè)務(wù)，而沃倫則呆在紐約。萊維說，他們在客戶服務(wù)方面持有“完全相同的態(tài)度”。然而，懷疑人士對權(quán)力的平衡感到擔(dān)憂。71歲的萊維打算在30個月后將執(zhí)掌大權(quán)交給61歲的沃倫。對于投資者來說，萊維的業(yè)績要比沃倫好得多。受益于數(shù)字行業(yè)收購和新興市場投資，陽獅的股價在過去的5年中翻了兩番多。而同期宏盟的股價只上升了約70%。索瑞爾說，盡管宏盟在上世紀(jì)90年代的年收益率達到了30%，但公司增長的放緩說明沃倫的策略“并沒有奏效”。

????WPP負責(zé)人將陽獅-宏盟的合并稱之為“極其大膽、勇敢而又驚人的舉動”，而且目前，他作為旁觀者對此艷羨不已。少數(shù)對陽獅-宏盟合并不滿的客戶可能會投向索瑞爾的懷抱。與此同時，一些行業(yè)觀察人士認(rèn)為，總部位于英國的WPP可能會通過收購麥肯集團（McCann-Erickson）的母公司埃培智集團（Interpublic Group）來進一步壯大自己的實力。WPP旗下?lián)碛兄峭d（JWT）和奧美集團（Ogilvy Group），以及公關(guān)巨頭博雅公關(guān)（Burson-Marsteller）和偉達公關(guān)（HillKnowlton）。索瑞爾并沒有過多地去表露自己的羨慕之情。他在談到合并對WPP的影響時承認(rèn)：“到目前為止，我們?nèi)匀幌Ｍ鲎畲蟮膹V告商。最壞的情況：合并對我們來說是喜憂參半。最好的情況：它會帶來非常積極的影響。光是監(jiān)管批準(zhǔn)和磨合過程就夠他們忙的了。”

????消息一出，埃培智的股票應(yīng)聲上漲了5%。對于極具金融頭腦的索瑞爾來說，當(dāng)一家公司的股價因交易預(yù)期而上揚時，他是不會去收購這家公司的。但是讓我們拭目以待吧。如果WPP購買埃培智，雙方根據(jù)2012年的合并營業(yè)額將達到230億美元，跟陽獅宏盟的營收規(guī)模不相上下。（財富中文網(wǎng)）

????譯者：翔?

????Levy and Wren intend to be co-CEOs of the new company for 30 months, in part "to make clients comfortable" with the new set-up, Levy explains. Even so, the set-up is inherently risky. "Co-CEOs is not an easy structure," notes WPP chief Martin Sorrell, who runs the world's largest ad holding company, at least until Publicis Omnicom passes regulatory muster. (Approvals are needed in 41 countries, Wren says.) Indeed, corporate history is packed with failed co-CEOs; outsized egos typically destroy relationships and damage companies, particularly big global ones. Remember Sandy Weill and John Reed at Citigroup (C)?

????The plan is for Levy to continue operating from Paris, while Wren remains in New York. Levy says they possess "exactly the same attitudes" toward serving clients, but skeptics are concerned about the balance of power. The 71-year-old Levy, who intends to hand the CEO reins to Wren, 61, after 30 months, has performed much better for investors than Wren. Benefiting from digital acquisitions and investments in emerging markets, Publicis stock has more than tripled during the past five years. Omnicom is up about 70% in the same period. While Omnicom delivered 30% annual returns in the 1990s, its slowdown suggests that Wren's strategy "wasn't working," says Sorrell.

????The WPP chief calls the Publicis-Omnicom merger "an extremely bold, brave, and surprising move," and he is now salivating on the sidelines. Sorrell will likely pick up a few clients dissatisfied by the Publicis-Omnicom merger. Meanwhile, some industry watchers contend that British-based WPP, which owns JWT and Ogilvy Group, as well as PR giants Burson-Marsteller and Hill & Knowlton, could bulk up further by acquiring Interpublic Group (IPG), the owner of McCann-Erickson. Sorrell downplays his attraction. "We'd rather be the biggest by far," he admits, adding about the impact of Publicis Omnicom on WPP, "At worst, it's neutral. At best, it's highly positive. They're going to have their hands full getting regulatory approvals and trying to extract synergies."

????IPG's stock rose 5% on speculation. Sorrell, a finance man to the core, is not the type to buy a company when the expectation of a deal is priced into the stock. But wait and see. If WPP would buy IPG, the combination based on 2012 revenue would be $23 billion. That's the same size as Publicis Omnicom.