Nielsen has split into two?independent, publicly-traded companies - Nielsen?Global Media and Nielsen Global Connect after a strategic review. The move aims to sharpen the focus of the two business segments and?bring more opportunity for them to leverage their unique competitive advantages, said a press release.
Nielsen Global Media will provide media and advertising clients with "unbiased and reliable" metrics and help clients to define exactly who they want to reach, as well as optimise the outcomes they can achieve. The company's cross-platform measurement strategy brings together the best of TV and digital measurement to ensure a more functional marketplace for the industry.
Meanwhile, Nielsen Global Connect provides consumer packaged goods manufacturers and retailers data and builds tools that use predictive models to formulate business decisions and solutions. It will leverage its data and insights as well as the open, cloud native measurement and analytics platform to help?brands innovate and grow their businesses.
James Attwood had been serving as executive chairman to oversee the company's strategic review and CEO search. The strategic review included an in-depth analysis of businesses, strategies and market opportunities.?With the completion of the strategic review, he resumes his role as chairman of the board, effective immediately.
Attwood said the board concluded that separating into two companies is the best path to position each business for "long-term success and maximum value creation". "As independent companies, both Nielsen?the Global Media business?and the new company consisting of Global Connect will enjoy added flexibility and further strengthen their paths toward a new phase of growth, productivity and industry leadership," he added.
After the separation is complete, Nielsen CEO David Kenny will serve as the CEO of Nielsen's Global Media business. Nielsen has begun a search for a CEO of the Global Connect business, which will consider both external and internal candidates. Additions to the management teams and the composition of the boards of directors for both companies will be named in due course.
Kenny said?Nielsen has evolved significantly since the review started, building a track record of execution, led by improved operational and financial discipline. The Global Media and Global Connect businesses, according to him, are independently essential to the industries they serve and each has unique dynamics. The separation will ensure that they are each best positioned to serve the specific needs of their clients and address rapidly changing dynamics in the marketplace.
Nielsen currently expects the spin-off transaction to be completed in nine to twelve months, subject to final board and legal approval.
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