At least one CEO wants to talk about advertising. PepsiCo’s Ramon Laguarta used a recent appearance in front of investors to champion the company’s decision to hand its global media account to Publicis Groupe. The move came without a formal review and pulled the business away from Omnicom, which had managed it for three decades. That is a lot of money changing hands. PepsiCo spends an estimated $1.9 billion on media a year, $780 million of it in North America, according to COMvergence. The fallout spread fast. Coca-Cola, a Publicis client in North America since the holdco won that account from WPP only last year, is now preparing a review of…
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