Dentsu ends alliance with Publicis Groupe, sells shares

As part of the change, two Dentsu executives, chairman Tatsuyoshi Takashima and president and chief executive officer Tadashi Ishii, have resigned from Publicis' Supervisory Board.

Dentsu retained ownership of 3.8 million shares, or 2 per cent of the outstanding shares prior to the transaction.

Two joint-venture companies in Tokyo, Beacon Communications and Dentsu Razorfish, will see no changes to their management structure or policies, the companies said.

Maurice Lévy, chairman and CEO of Publicis Groupe, called the relationship "amicable and exemplary" in a statement and stated that the two groups will continue their cooperation in a "fruitful manner via specific commercial agreements".