Showing Up Isn't Strategy: Dentsu's Real Challenge Beyond the Pitch

Takeshi Sano became Dentsu's global CEO on March 27, 2026, and in his first six weeks, something unusual happened: the CEO of a major agency holding company actually showed up to a client pitch.

That sounds like a low bar. It is. But for Dentsu, it's a meaningful shift.

His predecessor, Hiroshi Igarashi, ran the Japan-based agency group at arm's length from international clients. He never secured a buyer for the business and lost three of its most senior global executives along the way. When Sano took over, the company was already carrying a record net loss of US$2.18 billion for 2025.

Heineken Said Yes. But Read the Fine Print.

In May 2026, Dentsu retained the Heineken global media account, worth around US$550 million a year. Sano was involved in the pitch. Industry observers credit his hands-on approach as a factor in the win.

But here's what the headline doesn't say: Publicis, WPP, and Stagwell all walked away with Heineken's creative work. Dentsu kept the media buy. It's a retention, not a sweep. And retaining one client while rivals divide the rest of the contract among themselves is not the confidence signal Dentsu needs right now.

That same month, Microsoft moved its global media account, estimated at between US$700 million and US$1.2 billion, from Dentsu to Publicis. Microsoft had been with Dentsu for 12 years. And it didn't even go to a competitive pitch. Publicis won by offering Microsoft something Dentsu couldn't match: a deal to embed Microsoft AI tools across all 114,000 of its employees. No pitch needed. The account just moved.

The Competition Has Already Moved the Goalposts

This is the part that should concern APAC marketing leaders most. Publicis posted 6.4% organic growth in the first quarter of 2026, its 20th consecutive quarter of outperforming the market. It captured US$10.4 billion in net new business in 2025 alone. Dentsu's guidance for all of 2026 is 0% to 1% organic growth.

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Mission MediaMission Media

Across the region, Dentsu's international business outside Japan fell 7.9% in 2025. The company halved its international entity count from over 1,000 to around 500 and is cutting another 1,300 jobs. These are defensive moves, not growth moves.

Meanwhile, both Publicis CEO Arthur Sadoun and WPP CEO Cindy Rose are described by consultants as "ubiquitous," showing up personally to pitches and embedding themselves in client relationships. "Arthur and Cindy are in every single pitch, you know, top to top," said one consultant quoted in Digiday. Sano is trying to match this model. But his rivals have had years to build that momentum.

What Cannes Will Actually Tell Us

The real test comes on June 23 at Cannes Lions, where Sano will appear on the main stage. Industry consultants are watching closely. Ruben Schreurs, CEO of Ebiquity, put it plainly: Sadoun and Rose have each been clear about what they're building. "It will be interesting to see what's the story or value proposition that will differentiate Dentsu from its peers?"

At-risk accounts including P&G, General Mills, Kraft-Heinz, and General Motors are all being actively pursued by rivals. Sano has reportedly met with all of them. Whether those meetings translate into confidence, or just goodwill, depends on whether he can answer Schreurs' question with something concrete.

Sano called "client-centricity our new mantra" when he took the job. That's a start. But as one consultant noted, Dentsu needs to demonstrate it is "a sustainable business that can invest and can compete." Showing up to pitches is necessary. It is not sufficient.