WPP CEO Mark Read is set to step down from his post after more than seven years at the helm of Britain’s biggest agency network, ending a 30-year association with the group.
In a statement released early this morning (9 June), the London-based holding group confirmed that Read would stay in post until 31 December this year in order to facilitate a “smooth transition”.
WPP has confirmed that its board has now begun the search for Read’s successor, with the move coming at a turbulent time for the business, which has cut thousands of jobs and merged several agencies over the past two years.
“After seven years in the role, and with the foundations in place for WPP’s continued success, I feel it is the right time to hand over the leadership of this amazing company”, said Read.
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“I am excited to explore the next chapter in my life and can only thank all the brilliant people I have been lucky enough to work with over the last 30 years, and who have made possible the enormous progress we have achieved together.”
Having spent the vast majority of his career with WPP, Read first joined the firm as a corporate development manager in 1989 and was one of Sir Martin Sorrell’s right-hand men until the latter’s departure in 2018.
Philip Jansen, chair of WPP said: “On behalf of the Board, I would like to thank Mark for his contributions not only as CEO but throughout his more than 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 added.
