General Motors Co's Chevrolet brand is consolidating its global advertising, undoing a partnership created a year ago between Interpublic Group's McCann Worldgroup and Omnicom Group's Goodby, Silverstein & Partners.
McCann on Thursday said it was assuming the 50-percent stake held by Goodby in the joint venture Commonwealth, which will continue as Chevrolet's global advertising agency.
As part of Commonwealth, Goodby handled Chevrolet's U.S. advertising, while McCann had responsibility outside of the United States. Under the consolidation, McCann will take over Chevrolet's U.S. advertising.
The transition to a single agency will begin immediately, GM said Thursday.
McCann said Goodby's Detroit employees will be offered jobs in the restructured Commonwealth.
The move "should have no impact on our plans to grow the Chevrolet brand around the world," said Alan Batey, GM's vice president of U.S. sales and service and interim global chief marketing officer.
(Reporting By Paul Lienert in Detroit; Editing by Diane Craft)