Overview

• Mark Read will leave WPP at the end of 2025 after nearly 30 years at the firm and almost seven as chief executive.
• Philip Jansen, the former BT chief who became WPP chairman earlier this year, will oversee the process to appoint Read’s successor.
• WPP has committed £400 million this year to expand its AI-driven operating system, WPP Open, to bolster its technology and data capabilities.
• Under Read’s tenure, WPP’s share price has dropped by roughly half and first-quarter like-for-like revenue fell 2.7 percent, underperforming forecasts.
• Rivals such as Publicis reclaimed the world’s top advertising spot last year and the planned $13.3 billion merger of Omnicom and Interpublic threatens to intensify competition.