WPP announces Mark Read as Chief Executive Officer
WPP plc today announces the appointment of Mark Read as Chief Executive Officer and his appointment to the Board of WPP as an Executive Director with immediate effect. Read had the chops to vie for the position and was keen to take on the role as well. Initially, Sir Martin Sorrel had intended both Mark Read and Andrew Scott to succeed him but with his premature exit plans changed. Mark Read had an excellent run as Global CEO of Wunderman and a was groomed by Sorrel in his early years.
Roberto Quarta, Chairman of WPP, said: “The Board carried out a rigorous selection process, assessing internal and external candidates. That process, alongside Mark’s wise and effective stewardship of the business in the last few months, left us with no doubt that he is the right leader for this company, and we are delighted to announce the Board’s unanimous decision to appoint him as Chief Executive Officer of WPP. “Recognised for his leadership throughout the industry, he has an intimate understanding of the business, he enjoys very strong internal support, and he has earned the respect and endorsement of our clients with his constant focus on their needs. He has played a central role in many of WPP’s most successful investments and initiatives, and he has deep experience at board and operational level. Most recently, Mark led the transformation of Wunderman into one of the world’s top digital agencies, and he understands the importance of culture in creating successful organisations. In short, he is in every way a 21st-century CEO. “WPP is a world leader in communications services. The priority for the Board and the task ahead for Mark and the new management team is to build on this position of strength, while pursuing a clear vision for change and value creation.”
Mark Read said: “WPP is a great company with exceptional people and strong relationships with clients who place a high value on our work. Few organisations have our global reach – 130,000 people delivering results for clients in 112 different countries. Fewer still have our powerful combination of creativity and expertise in technology and data.
“Our industry is going through a period of structural change, not structural decline, and if we embrace that change we can look ahead to an exciting and successful future. Our mission now is to release the full potential that exists within the company for the benefit of our clients, to accelerate our transformation and simplify our offering, and to position WPP for stronger growth.