LONDON: WPP plc, the world’s largest communication services group, Monday announced the appointment of insider Mark Read as chief executive officer and his appointment to the board of WPP as an executive director with immediate effect.
He takes over the position left vacant by the forced resignation of Martin Sorrell in April, 33 years after founding WPP, following allegations of personal misconduct and misuse of company assets. Sorrel had denied the charges.
The appointment of Read as CEO sees WPP chairman Roberto Quarta resuming his role as non-executive chairman.
Andrew Scott will continue in his role as chief operating officer of WPP on a permanent basis as a key member of the senior management team.
Read, 51, has held multiple leadership positions across the company, including nine years as an executive director of WPP plc. For 12 years, as head of strategy and then CEO of WPP Digital, he was responsible for the company’s digital development, including the move into technology through the acquisition of 24/7 Real Media, the creation of digital network POSSIBLE and the launch of Stream, WPP’s “unconference”.
In 2015, he was appointed Global CEO of Wunderman, where he transformed the network into one of the world’s leading customer-focused digital agencies. Wunderman is among WPP’s largest businesses, with more than 10,000 people in 200 offices across 70 countries and clients including Microsoft, Dell, Shell, BT and Adidas.
In April he was named joint chief operating officer of WPP, with responsibility for clients, operating companies and people.
Read’s track record at Wunderman made him the leading internal candidate to become CEO after he spent almost nine years on the board from 2006 to 2015. He has also worked on strategy, client retention and digital operations.
Earlier in his career, Read co-founded and developed internet start-up WebRewards. He also specialised in the media and marketing industries as a principal at consultancy Booz Allen & Hamilton, having started his career at the WPP parent company working on corporate development.
Read takes over the $20.7 billion company at a difficult time however as cautious clients question everything they spend and Facebook, Google and consultants such as Deloitte encroach on its turf, Reuters reports.
