WPP Names Microsoft’s Executive Cindy Rose
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Cindy Rose’s appointment as the new CEO of WPP underscores technology as the backbone of the beleaguered agency group’s future direction, according to multiple industry insiders. Subscribe and get unlimited access to Ad Age’s award-winning industry coverage for $20 $10 your first month.
WPP sent jitters across Madison Avenue with an unexpected profit warning Wednesday. The threat of AI isn't helping.
Like-for-like revenues (excluding pass through costs) are expected to drop between 3% and 5%, the FTSE 100 advertising giant said.
Here are seven things you should know about Cindy Rose, WPP’s next CEO, from her experience as a lawyer and informing government policy on AI to her advocacy for mental health in the workplace.
The London-listed company is grappling with client defections and the rise of artificial-intelligence.
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WPP’s media unit is in the frame as the global advertising group downgrades its full year revenue outlook in the face of weak sales, client losses, a pull back on spend and a shrinking pitch runway. The “weaker than expected top line performance” has changed the company’s tone and wording of commentary about WPP Media, formerly GroupM.
WPP’s next chapter will be written by Cindy Rose, the seasoned Microsoft executive and long-time WPP board member who steps into the CEO role at a time of major upheaval.
The update painted a sobering picture of the state of advertising investment. WPP said it expects like-for-like revenue, excluding pass-through costs, to decline by 4.2% to 4.5% in the first half of the year with a decline of 5.5% to 6% in the second quarter alone.