WPP Chief Mark Read Will Exit as Ad Industry Grapples With Change
British advertising giant WPP is on the lookout for a new CEO following the announcement that current leader Mark Read will be stepping down by the end of 2025. This decision comes after seven years at the helm, during which time Read has laid the groundwork for WPP’s future success.
In a statement, Read expressed his gratitude for the opportunity to lead the company, stating, “I feel it is the right time to hand over the leadership of this amazing company. I am excited to explore the next chapter in my life and can only thank all the brilliant people I have been lucky enough to work with over the last 30 years.”
Despite Read’s contributions, WPP has faced challenges under his leadership. The company’s shares have dropped significantly, with a decline of one-third in 2025 alone and a fifty percent decrease over the course of Read’s seven-year tenure. Read, a long-time employee at WPP who previously worked closely with the company’s founder Martin Sorrell, took over as CEO in 2018 following Sorrell’s departure amidst allegations of misconduct.
During Read’s tenure, WPP has navigated a changing advertising landscape, with major advertisers like Procter & Gamble and Unilever scrutinizing their spending and seeking to streamline their agency partnerships. This shift has led to a decreased reliance on traditional advertising methods like TV commercials in favor of more targeted, data-driven approaches.
In an effort to adapt to these changes, Read oversaw the merger of agency giants like J. Walter Thompson and Young & Rubicam with data and technology firms, aiming to make WPP more relevant to modern advertisers. However, this strategy has also led to a dilution of the agency brands and their distinct identities.
Recently, WPP revamped its media-buying agency GroupM, focusing on leveraging artificial intelligence for media planning and placement. Despite these efforts, the company has faced challenges, including the loss of key accounts at GroupM.
Meanwhile, competitors in the advertising industry are also evolving their strategies. Interpublic Group is set to merge with Omnicom Group, while Publicis Groupe has expanded by acquiring businesses specializing in influencer marketing.
As WPP prepares for a leadership transition, Chairman Philip Jansen emphasized the importance of ensuring a smooth handover to Read’s successor. Navigating the rapidly changing advertising landscape will require strategic thinking and innovation to stay competitive in the industry.
