British advertising giants WPP The company is hunting for a new CEO after the company announced early on Monday morning that its current leader, company veterans Mark readWill eliminate the reins by the end of 2025.
“After seven years in the role, and with the foundation for the continuous success of WPP, I think it’s the right time to hand over the leadership of this amazing company,” Reid said. “I am excited to find out the next chapter in my life and only thank all the magnificent people I have been lucky enough to work in the last 30 years, and who have made it possible for the huge progress we achieved together.”
Nevertheless, WPP, which operates dozens of agencies ranging from Hill and Noelton to Lander and Fitch, has weakened under Reid’s watch. The stocks are below one third of the 2025 course, and have fallen by half during Reid’s seven -year tenure. Reid has spent 30 years in the company, many of them as the lieutenant of the company’s founder, Martin Sorel. Sorel took out of the company in 2018 amid the investigation into allegations of misconduct, and read, who spent the new digital operations of this time, became the new leader of the company.
During its time in the top role, Reid has tried to run WPP through a difficult climate. Large advertisers like Proctor & Gamble, Unilever and Ford Motor have started focusing on the money spent with WPP, not only trying to reduce the number of firms that they work, but they pay the fees they pay. They are also able to buy media time and collect consumer information more easily on their own. WPP and Interpublic groupOne of the larger holding companies in the sector has tried to focus on the new technology that analyzes and analyzes it, but has also had to merge some of its largest and most recognizable property.
All this has inspired advertisers to move away from trade, 30-second TV commercial in the main stock of Madison Avenue, and focus on techniques that cannot generate more revenue and work.
Under reading, WPP The agency such as Walter Thompson and Young and Rubikam merged to make modern advertisers more relevant in a large with data and tech expert firms. However, in doing so, the company reduced the agency brands and identity.
WPP recently overhell its media-Kharid agency GroupumLowering individual operations such as Mindsheer and Wavemaker, exposing new abilities to use artificial intelligence to prepare many employees and to prepare media plans and placements. But this step was not taken out of strength. Groupm had lost many important accounts in recent years.
The rivals have also tested new methods to compete. Interplike Group is ready to merge With its large American contemporary, Omanicum groupThis year some time. The Publis Group of France has enlarged by assimilating businesses that work to affect the affected.
In a statement, Chairman of the Board of Directors of WPP, Philip Jnasen said that read to stay by the end of the year means that the company will focus on “supporting its successor a smooth transition”. But it would be anything to pursue the WPP in the midst of a rapidly changing area but it will be simple.
