WPP has stumbled into 2024 with a -1.6% drop in organic revenue, lagging considerably far behind rivals Publicis (up 5.3%), Omnicom (4%).
WPP CEO Mark Read sees £2.3m pay cut after challenging year
WPP chief executive officer Mark Read saw his pay package fall by £2.2 million to £4.5 million in 2023, according to the group’s latest annual report.
WPP UK president Karen Blackett to leave after 29 years
WPP’s president in the UK, Karen Blackett is set to leave the business this summer after 29 years to pursue ‘external interests’ and ‘new opportunities’.
WPP profits crash as tech giants slash advertising budgets
WPP pre-tax profits plunged more than 70% as US tech and retail businesses cut back on advertising.
WPP to invest £250m into artificial intelligence this year
WPP has shared plans to plunge hundreds of millions in to artificial intelligence in its latest announcement to investors.
WPP sounds out BT boss for new chairman
BT boss Philip Jansen is being considered for the new chair of British marketing services group WPP when Roberto Quarta steps down later this year.
WPP poaches Landor & Fitch exec to be chief client officer
WPP has poached Landor & Fitch exec Jane Geraghty to come on board as the global creative agency’s chief client officer in January 2024.
X/Twitter CEO travels to London in desperate bid to woo advertisers
The chief executive of X, formerly known as Twitter, Linda Yaccarino has reportedly set in motion a charm offensive in a bid to win back advertisers.
WPP merges VMLYR and Wunderman Thompson to create ‘VML’
In a major development, WPP is set to merge two of its flagship agencies VMLY&R and Wunderman Thompson to create ‘VML’.
Top brands and agencies are increasingly turning to AI to cut costs
Brands and advertisers are increasingly experimenting with generative AI software in a bid to cut costs and drive efficiency, a range of leading executives have told Reuters.