Omnicom CEO John Wren: 'Worst of the Recession Behind Us' Holding Company Reports Fourth-Quarter Profit Down 15.3%

©IDG Communications, Inc. Photo contributed by Matthew Mikaelian.

2/10/10, Ad Age

Despite another double-digit profit decline last quarter at Omnicom Group, CEO John Wren believes the ad industry has finally made it through the worst of the recession.

“As economies improve, we believe the worst of the recession and its impact is behind us,” Mr. Wren said on the company’s fourth-quarter earnings call this morning. “While not all of our clients have finalized their 2010 budgets, we anticipate that many will at least modestly increase spending in the second half of this year.”

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