From Yahoo Finance: 2025-06-09 10:36:00

WPP CEO Mark Read is stepping down after losing the title of world’s largest ad company to French rival Publicis. His departure comes amid industry turmoil due to AI and competition from tech giants like Google and Meta. WPP’s share price has halved under Read’s leadership.

During his tenure, Read simplified WPP by merging agencies and selling off non-core businesses. He invested heavily in AI and vowed to continue doing so. Despite his efforts, WPP’s growth stalled, and its share price dropped by more than half. Analysts doubt Read’s impact on shareholder value.

Read’s departure was announced after Philip Jansen became WPP chairman. Jansen praised Read for transforming the company into a modern marketing leader. Read expressed confidence in WPP’s future as he prepares to hand over leadership. The search for his successor has begun.

Read more: Boss of London ad champion quits after losing crown to French rival