»Mark Read

Mark Read: The Future Of WPP Is Interoperable

WPP CEO Mark Read has worked to make the holding company faster, simpler and more collaborative. Since taking on the top role a little over a year ago, Read reshaped the world’s largest holding company, notably folding creative agencies J. Walter Thompson into Wunderman and Young & Rubicam into VML. He also sold a majority... Continue reading »

by Alison Weissbrot // January 17th, 2020 //

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WPP Hopes The Bleeding Has Stopped, Looks To Growth Opportunities

WPP has struggled to grow in recent years, as key clients in fast moving consumer goods (FMCG) reduce spend and its traditional creative agencies underperform. While the tech vertical and its media business are relative bright spots, they aren’t big enough to buttress the entire holding company. WPP’s Q3 performance, which the company reported Friday,... Continue reading »

by Ryan Joe // October 25th, 2019 //

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Bain Capital To Buy Majority Stake In WPP’s Kantar For $4 Billion

WPP said Friday it has sold a 60% majority stake in Kantar to Bain Capital in a deal that values the company at around $4 billion. Read the release. The news marks the end of a months-long bidding process that involved Apollo Global Management and Vista Partners. Bloomberg reported earlier in July that Bain had... Continue reading »

by Alison Weissbrot // July 12th, 2019 //

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WPP Makes Progress In 2018, But Creative And CPGs Still Cause Pain

After two years of stock declines, WPP is finally inching toward progress. The holding company on Friday reported revenue was down 1.3% in 2018 to $2 billion and billings up 0.4% to $7.4 billion, at the upper end of guidance set in October. Shares jumped 8% upon the news. But work remains to be done... Continue reading »

by Alison Weissbrot // March 1st, 2019 //

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Tim Castree Named CEO Of GroupM North America

GroupM said Wednesday that Wavemaker global CEO Tim Castree has been named CEO of GroupM North America. Castree does not yet have a successor and will stay on in an advisory role at Wavemaker until a replacement is named. Castree’s big task will be to get GroupM back to growth in North America, its slowest... Continue reading »

by Alison Weissbrot // December 12th, 2018 //

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Does WPP’s New Strategy Signify The Recoupling Of Creative And Media?

Even before WPP’s restructuring announcement Tuesday, the holding company had already merged digital agency VML with creative agency Young & Rubicam, and digital agency Wunderman with creative agency J. Walter Thompson. It’s still unclear what that means for GroupM’s four large media agencies. WPP CEO Mark Read didn’t comment directly about the media buying arm,... Continue reading »

by Alison Weissbrot // December 12th, 2018 //

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WPP To Slash 3,500 Jobs And Consolidate More Agencies In Massive Restructure

The new WPP, as CEO Mark Read called it during a Tuesday morning investor call in London, will return to organic growth by reducing headcount by about 2.5%, consolidating agencies and investing strategically in technology. WPP expects to deliver annual savings of $346 million by the end of 2021 thanks to this strategy. Restructuring costs... Continue reading »

by Alison Weissbrot // December 11th, 2018 //

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WPP Q3 Worse Than Feared, Kantar Officially For Sale

Something is wrong with WPP Group – or, perhaps, many somethings. On its Q3 call with investors Thursday, management detailed a list of ailments longer than that of a septuagenarian overdue for his physical. North America? “Further weakening.” Creative agencies? “Doing poorly.” Account losses? As bad as you’ve heard. Revenue was down .8%, and the... Continue reading »

by Zach Rodgers // October 25th, 2018 //

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How New CEO Mel Edwards Will Build On Wunderman’s Momentum

Wunderman global CEO Mel Edwards has big shoes to fill. Last Thursday, the CRM and digital agency said it would replace CEO Mark Read, recently named CEO of WPP, with Edwards, who previously led the agency in EMEA. Read is credited with turning Wunderman around from a legacy direct marketing company into a digital powerhouse.... Continue reading »

by Alison Weissbrot // September 17th, 2018 //

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