WPP Boss Mark Read to withdraw

Monday 09 June 2025 7:34 AM
| Updated:

Monday 09 June 2025 7:42

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WPP executive chief Mark Read will resign by the end of this year after the advertiser shares reached the lowest level of four years earlier this year.

Read departing after more than 30 years serving in an advertising group registered in London, of which seven of them are at the top of the job.

WPP lost its crown as the largest advertising company in the world last year in the midst of a slowdown in sales throughout the United Kingdom and the US, and a prolonged decline in China.

In February, shares reached the lowest level of four years because income missed hopes. Analysts have provided gloomy estimates for the remaining 2025, while stock has dropped one third this year to date.

Read will remain as the Chief Executive until December 31, WPP said, with a search for the successor that has taken place.

WPP CEO: ‘I feel this is the right time’

“When I take this role, our mission is to build a simpler, stronger business, and place our new structure and energy behind our creativity and performance, supported by world leading technology,” Read said.

“I am proud that our team throughout the business has sent it very well. Our clients today judge us higher than before, we now work with four of the five most valuable companies in the world, and our income with our biggest clients has grown consistently.”

He added: “After seven years in that role, and with the foundation for the success of WPP that is sustainable, I feel this is the right time to hand over the leadership of this extraordinary company.”

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Philip Jansen, Chairperson of WPP, said Read had played a “central role” in turning the company into a “world leader in modern marketing services, with in -depth AI, data and technology capabilities, global presence and unmatched creative talent.”

“We are happy that Mark will continue to lead the WPP as CEO until the end of the year, remain focused on implementing company growth strategies and supporting smooth transitions to his successor, after being appointed.”