WPP’s Mark Read to step down as CEO this year
Mark Read
WPP’s chief executive officer Mark Read has announced he will step down at the end of the year, after three decades with the holdco.
Deciding that “now is the right time” for him to hand over the reins, Read will officially finish up from the board and as CEO on December 31. No successor has been named yet, but according to WPP, the search is underway.
Read has served as CEO for the past seven years, having replaced Sir Martin Sorrell after his abrupt resignation. Before taking on the top role, he had a stint as WPP’s COO for six months. He was the CEO of Wunderman, now part of VML, for the three years prior, and spent 12 years at WPP as director of strategy and a board member.
Mark Read
Read said it has been an “immense privilege” to serve as CEO.
“When I took on this role our mission was to build a simpler, stronger business, and put structure and new energy behind our creativity and performance, powered by world-leading technology. I am proud that our teams across the business have delivered that exceptionally well,” Read said in a media release.
“Our clients today rate us more highly than ever before, we now work with four of the world’s five most valuable companies, and our revenues with our biggest clients have grown consistently.”
He said WPP has the foundations in place for “continued success”, including its investments into AI, which position the holdco “at the forefront” of the industry.
“…We are now leading the way as AI transforms marketing. We have an exceptional leadership team and a secure financial position that allows us to face the future confidently and capture the opportunities ahead.”
On behalf of the board, WPP”s chair, Philip Jansen, thanked Read for his 30 years of leadership and service to the company.
“During that time Mark has played a central role in transforming the company into a world leader in modern marketing services, with deep AI, data and technology capabilities, global presence and unrivalled creative talent, setting WPP up well for longer-term success,” he said.
“We are pleased that Mark will continue to lead WPP as CEO until the end of the year, remaining focused on the execution of the Company’s growth strategy and supporting a smooth transition to his successor, once appointed.”
Under his leadership, WPP’s creative, communications, and more recently media, divisions have undergone serious consolidation in recent years.
In 2023, the network announced the merger of its creative agencies VMLY&R and Wunderman Thompson, bringing the VML name out of retirement. Shortly after, it revealed plans to merge its communication agencies Hill & Knowlton and BCW, to form Burson. The name also returned to the WPP stable after retiring in early 2018 when it was merged with Cohn & Wolfe.
In late 2024, it also wholly acquired T&Pm, which was born out of a partnership between The&Partnership and mSix&Partners. T&Pm has gone heavy on AI, and makes extensive use of WPP Open, the holdco’s AI operating system.
Most recently, WPP retired the GroupM brand and introduced WPP Media, a consolidated version of the media arm. WPP’s media agencies Mindshare, Wavemaker, and Essencemediacom continue as dedicated brands within WPP Media, which also has an integrated media, data, and production offering.
WPP describes itself as an “AI-driven media company”, powered by WPP Open.
Read’s time as CEO has not been without controversy. In April, he sent an email to staff globally mandating they work from the office at least four days a week. This included a non-negotiable requirement of two Fridays per month.
This mandate was met with widespread criticism from unhappy staffers across markets. The day after the announcement, some “concerned” WPP employees launched a petition against the mandate, saying such a “rigid work regime” had mental and social impacts.
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