WPP's Ceasefire: Mark Read Steps Down as CEO
Mark Read's comprehensive departure statement reveals his decision to step down as CEO of WPP, the global advertising giant.
After a rough ride in the first half of 2025, WPP's head honcho, Mark Read, has declared his departure come December.
With 30 years under his belt at WPP, including an impressive 7-year reign as CEO, Read's successor is yet to be determined, but the hunt is on as the corporation discloses an active search.
The U.K.-based advertising behemoth has grappled with below-par earnings since the tail end of 2024 and into Q1 2025. During this period, they've lost some significant media accounts, such as Coca-Cola's North America business, and ended a two-decade-long relationship with Paramount.
Despite these setbacks, WPP has revamped GroupM into WPP Media and downsized its staff count in a reorganization effort to streamline operations.
Throughout Read's tenure as CEO, WPP has undergone brand consolidation, revamped its IT operations, and invested heavily in AI technology.
In his official statement, Read expressed his relief, stating, "I'm leaving WPP with an exceptional leadership team and a solid financial standing that empowers [it] to boldly venture into the future and seize the opportunities forthcoming."
Read further penned a heartfelt farewell to the WPP family, praising his colleagues, clients, and the international reach of the company. He extolled the achievements during his tenure, including maintainingclient satisfaction, partnering with four of the world's most valuable companies, and consistent revenue growth with top clients.
Celebrating the team's success in last year's Cannes Lions as the Creative Company of the Year, Read highlighted WPP's lead in the industry with AI advancements and the full launch of WPP Open, positioning them at the vanguard of AI-driven marketing.
With the foundations for WPP's ongoing success firmly laid, Read conveyed his sentiment that the time was ripe for a fresh perspective in the CEO role.
Embracing the upcoming changes, Read looked forward to embarking on the next phase of his life and expressed gratitude to his esteemed colleagues, WPP Chair Phil Jansen, and the Board for their unwavering backing.
WPP CEO Mark Read Bids Adieu After 7 Years
Ready to tackle a new adventure, Read thanked his valued coworkers for their collective triumphs and the opportunities they built together. He also appreciated the unwavering support from Phil Jansen and the rest of the Board during his tenure and preparations for his successor's arrival.
- Mark Read, prepared for a new venture, acknowledged the financial stability and robust foundation in the industry that his investments in AI technology, brand consolidation, and revamped IT operations have laid for WPP, positioning it as a leader in the business and finance realm.
- As WPP embarks on a search for a new CEO, the corporation will be looking for someone capable of leveraging these investments in order to sustain and expand the corporation's lead in the advertising industry, maintaining client satisfaction with top businesses and fortifying its position as a pioneer in AI-driven marketing.
