The news: WPP’s CMO and CEO of its Coca-Cola agency, Laurent Ezekiel, will depart the company to join Publicis, adding to a string of high-profile losses for the struggling holding company. Our take: With Ezekiel’s and Read’s departures, WPP is at an inflection point as it struggles to reinvent itself and keep pace with competitors. The company faces mounting pressure as other holding companies develop stronger digital and data-driven capabilities. WPP’s future depends on how well its new CEO can close gaps in modernization, build its AI investments, and enact significant operational changes.

The news: The pending Omnicom Group and Interpublic Group merger is facing a new hurdle, per a New York Times report. The Federal Trade Commission is reportedly considering adding restrictions on Omnicom and IPG that would stop the merger unless the new company agrees to a ban on ad boycotts that would prevent it from refusing to host clients’ advertisements on platforms because of political reasons. Our take: If the FTC proceeds, the decision will have a ripple effect on the advertising industry as a whole, emphasizing that advertisers are increasingly faced with choosing between brand safety and legal pushback.