Two sides had informal conversations about a merger on multiple occasions.
Holding company parted ways with Tom Goodwin after he tweeted about pandemic.
The two agencies will be headed by Subhash Kamath and Russell Barrett
Arthur Sadoun on resilience during Covid-19, pay cuts and Maurice Levy's advice.
Arthur Sadoun, chairman and chief executive, said that the business has 'strong fundamentals to weather the crisis'.
Was president prior
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