MR giants merge to form GfK-TNSGfK and TNS are moving forward on a “merger of equals,” to be completed Q4, 2008, pending board approvals. The announcement was made June 3.
Hajo Riesenbeck, currently chairman of GfK's supervisor board, will become GfK-TNS chairman of the board.
Donald Brydon, currently TNS chairman of the board, will become the senior independent director. David Lowden, chief executive of TNS, will retain his title, as will Christian Weller von Ahlefeld, chief financial officer at GfK.
GfK-TNS will operate in 111 countries, with a global head office in London and a German head office in Nürnberg, according to the announcement.
Upon full acceptance of the deal, TNS shareholders and GfK shareholders will each hold approximately 50% of the share capital of GfK-TNS following completion of the merger.
The proposed merger was first announced in April.