Ashoke Sengupta has been appointed as GroupM's CFO for South Asia, in place of Choodamani Parameshwar. He was earlier Financial Comptroller with Microsoft India. Sengupta would be responsible for finance and administration for all GroupM companies in the four countries coming under South Asia. Sengupta has already resumed duties from February 23.
GroupM in South Asia comprises its three media agencies -- MindShare, Maxus, mediaedge:cia; BroadMind (entertainment), M One (digital one-to-one media), Dialect (BTL), ATG (BData analytics), MCI (consumer insights), and Out of Home.
Parameshwar has moved into the crucial internal audit area, as WPP focuses more strongly than ever in ensuring that all its companies remain SoX compliant at all times. He would be working directly with George Yeoh, CFO-Asia Pacific, in this endeavour. Apart from this, he would also oversee the finance and admin functions at mediaedge:cia India. Parameshwar's role is primarily that of a consultant.
Another development is that of Prashant Modi, who currently reports to Mani as National Finance Director for GroupM in India, being promoted to Director, Finance and Admin, for South East Asia. He will be relocating to Singapore in his new role in April. Modi will handle finance and admin for Malaysia, Thailand, Indonesia, Vietnam and Philipines, apart from Singapore. He will work with Nick Waters, CEO, SE Asia, for MindShare, in this new position.
Furthermore, Sridhar Ramasubramanium, currently head of commercial operations at MindShare Fulcrum, takes over from Modi as National Finance Director. He has built and run highly effective commercial and operations team to manage the HLL business, and was being developed to move into this position over the last one year.
When contacted Parameshwar said, "After spending nearly 20 years in the advertising industry, and three of which were in the group, I thought that I ought to take up something which is far less time consuming and relatively stress free. As a consultant for GroupM and mediaedge:cia, I would have purely an advisory role and I would be in a position to oversee the various operations that I have hitherto not been involved in. As CFO, I was the treasury man, taking care of the financial requirements of the group, keeping an eye on statements, investments, and expenditures and forecasting what's on for tomorrow. It was a pretty challenging job. The new assignment seems relatively easier and yet enjoyable which is why I am taking it up."
On his part, Sengupta said, "I made the crucial decision of shifting from one powerhouse named Microsoft into another powerhouse called GroupM. The South Asia doesn't really worry me, since I am familiar with regions in the subcontinent and have worked extensively there. As CFO-South Asia, I am going to help Ashu and Vikram in building GroupM of tomorrow. We are already doing extremely well, and we should see further spurt in growth in the coming days."