The buzz had been going round for the past few days. It is now official. Lakshmi Narasimhan, National Director for GroupM’s Central Trading Group (CTG), which is the centralized buying unit of all the agencies of GroupM, has put in his papers.
Narasimhan had been with GroupM for almost three years. It’s not known yet where he is headed though speculation is rife that he is joining a media house.
GroupM has issued an internal memo stating the changes following Narasimhan’s quitting. Prasanth Kumar, who was CTG’s Buying Head of South, would take over as National Director of CTG in full capacity. Also, Sajeevan, who was Print Head of South, CTG, will now be Investment Services Director for Group M and will head buying for South.
Despite repeated efforts including email, SMS and phone calls, Vikram Sakhuja, CEO, GroupM, India and South Asia, could not be contacted nor was any formal comment was forthcoming. Narasimhan too was not available to comment.
Recently, Sidharth Parashar was promoted as GroupM’s Investment Services Director for North region. In his new role, Parashar would look after buying for all agencies of GroupM in the northern region, which includes Mindshare, Maxus, Mediaedge:cia and Mediacom.