DETROIT, March 27, 2012
DETROIT, March 27, 2012 /PRNewswire/ -- After a creative account review, Chevrolet has selected a newly formed company, Commonwealth, as its new global advertising agency, responsible for the development of creative campaigns across all platforms for Chevrolet global advertising.
Detroit-based Commonwealth is a first-of-its-kind 50-50 joint venture, combining San Francisco-based Goodby, Silverstein & Partners, an Omnicom Group company, and New York-based McCann Erickson Worldwide, an Interpublic Group company.
In forming the joint venture, Commonwealth combines a wealth of creative talent, extensive global automotive experience and strategic business leadership that is unique in the industry. Chevrolet previously used 70 global agencies.
"This is the first time that two large marketing communications holding companies have come together to form a single company," said GM Vice President and Global Chief Marketing Officer Joel Ewanick. "Commonwealth will be based right here in Detroit, and its only focus will be on strengthening and growing Chevrolet into an iconic global brand."
This agency appointment, combined with the recent selection of Carat as GM's agency for its media planning and buying operations, is part of the company's ongoing effort to drive efficiencies in its marketing operations and more effectively build its brands around the world.
"These agency consolidations are expected to create about $2 billion in savings over the next five years, with a portion used to take advantage of key global marketing opportunities and strengthen the focus on our global Chevrolet brand, and a portion hitting the bottom line," Ewanick said.
Commonwealth will be guided by an eight-person Global Advisory Board, which will oversee all creative initiatives and strategy for Chevrolet globally. Assignments will be handled through global hubs, which will operate in Detroit, Milan, Mumbai and Sao Paulo, and will ensure consistent global branding across the diversity of local markets.
The board includes four of the most-accomplished creative executives in the industry: Jeff Goodby, who will serve as Creative Chairman; Washington Olivetto, Linus Karlsson and Prasoon Joshi. The four creative leaders will work in collaboration on all major creative initiatives and resource allocations.
"We are absolutely thrilled to be a part of the team to win Chevy's global creative business, taking our relationship one step further," said Goodby, co-chairman and creative director, Goodby, Silverstein & Partners. "I feel fortunate to have been able to watch a group of the very best people at the top of their game during this process. Joel Ewanick has always been willing to push boundaries and try new concepts, and the fact that he was open to this approach is the perfect example of that. We're excited to see what Commonwealth can mean for both Chevrolet and us."
Until now, Goodby, Silverstein & Partners has led the Chevrolet creative account in the United States, the brand's largest market, while McCann Worldwide has been Chevrolet's agency of record in many global markets, including Mexico, Canada, Brazil, India, Japan, China and Latin America.
"We are delighted to be expanding our relationship with the dynamic Chevrolet brand and with General Motors," said Nick Brien, chairman and CEO, McCann Worldgroup. "The Commonwealth solution is testament to McCann and Goodby's unrelenting focus on creating marketing solutions that grow clients' brands through creativity, digital velocity and performance."
Commonwealth will immediately begin to transition responsibility for Chevrolet creative work in most global regions, with the exception of China, India and Uzbekistan, where these activities will continue to be managed by agencies specific to those countries.
About General Motors
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM's brands include Chevrolet and Cadillac, as well as Baojun, Buick, GMC, Holden, Isuzu, Daewoo, Jiefang, Opel, Vauxhall and Wuling. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
Founded in 1911 in Detroit, Chevrolet is now one of the world's largest car brands, doing business in more than 140 countries and selling more than 4 million cars and trucks a year. Chevrolet provides customers with fuel-efficient vehicles that feature spirited performance, expressive design and high quality. More information on Chevrolet models can be found at www.chevrolet.com
In this press release and in related comments by our management, our use of the words "expect," "anticipate," "possible," "potential," "target," "believe," "commit," "intend," "continue," "may," "would," "could," "should," "project," "projected," "positioned" or similar expressions is intended to identify forward-looking statements that represent our current judgment about possible future events. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors. Among other items, such factors might include: our ability to realize production efficiencies and to achieve reductions in costs as a result of our restructuring initiatives and labor modifications; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; our ability to maintain adequate financing sources, including as required to fund our planned significant investment in new technology; the ability of our suppliers to timely deliver parts, components and systems; our ability to realize successful vehicle applications of new technology; and our ability to continue to attract new customers, particularly for our new products. GM's most recent annual report on Form 10-K provides information about these and other factors, which we may revise or supplement in future reports to the SEC.
SOURCE General Motors