Shridhar Toshniwal, Finance Director, dentsu International India, has put in his papers, sources close to the development confirmed the news to BestMediaInfo.com.
Toshniwal joined dentsu International India in 2012 as Senior Manager, Global Finance at the company’s Bengaluru office. Since then, he saw a slew of promotions ranging from VP Finance, SVP Finance, dentsu India to EVP Commercial Finance. Since April 2021, he took over the finance function of dentsu Internartional India’s creative line of business.
Previously, Toshniwal has worked at KPMG, E&Y and Ocwen Financial Solutions.
Toshniwal’s departure from the agency follows a dozen high profile exits last year.
Top people who exited the company between December 2020-December 2021 are:
In November 2021, sources told BestMediaInfo.com that a whistleblower filed a complaint alleging malpractices, corruption, kickbacks, and a few other discrepancies at dentsu International India.
The complaint triggered internal audits that might have led to a few of the top-level exits from the agency in the last few months, the sources have claimed.
Multiple sources informed BestMediaInfo.com that a few leaders also quit because they were upset with the restructuring and realignment of the agency units. On the other hand, a few might have been given a respectable exit due to a fallout ensuing from the internal audit.
However, the agency has, throughout this time period, maintained that these exits are a part of the global organisational restructuring and its dentsu 2.0 vision.
Earlier in June last year, on the back of its global organisational redesign, dentsu international created a new structure for its creative service line in India. The restructure brought together Dentsu Webchutney, Taproot Dentsu, WatConsult, Perfect Relations, Isobar, Dentsu One, Dentsu India and Dentsu Impact under one umbrella of dentsu Creative India. This structure will eventually consolidate under the two brands - dentsu mcgarrybowen (dentsuMB) and Isobar.
In April 2021, dentsu International also made changes in its media division as part of its global organisational redesign and brought dentsu X, Carat, iProspect and Posterscope under one umbrella of dentsu Media.