WPP’s chief executive, Mark Read, is stepping down after leading the UK ad network for seven years. Read, who has worked at WPP for over 30 years, will retire from the business as of December 31, 2025. A search for a successor is underway.
Read’s exit follows a tumultuous start to 2025, with the company’s share price plummeting to a four-year low due to weaker client spending and a loss of major accounts. Despite these challenges, Read has invested in WPP’s AI and data capabilities, acquiring new technologies and tools to drive growth.
Under Read’s leadership, WPP has undergone significant changes, including a restructuring of its media unit and redundancies at some client-facing roles. The company has also made notable acquisitions, such as the purchase of U.K.-based AI company Satalia and indie creative shop New Commercial Arts.
Read’s legacy is marked by his focus on streamlining operations and standardizing WPP’s “back end,” including IT. This has led to a significant reduction in net debt over the past year. However, the company’s share price has recently taken a hit under his watch.
Read’s departure marks another high-profile executive exit in recent months, following the exits of other senior leaders at WPP. Despite this, the company remains committed to its growth strategy and is focused on finding a new leader to drive its future success.
Source: https://www.adweek.com/agencies/wpp-ceo-mark-read-to-exit-after-7-years