Mark Read, the longstanding CEO of WPP, has officially announced his plan to step down by the end of 2025. Having spent over three decades with the global advertising and communications firm—and nearly seven years in the top leadership role—Read will remain in position until December 31 to ensure a smooth leadership transition.
During his time as CEO, Read led WPP through a significant period of transformation. He oversaw the restructuring of operations, the sale of several non-core businesses, and the strategic development of WPP’s in-house AI platform, WPP Open. These moves were part of a broader strategy to reposition the company in a rapidly changing digital advertising landscape.
Despite these initiatives, WPP has faced mounting challenges from tech-driven competitors. The company’s market value has dropped by about half under Read’s tenure, and its stock has reached levels not seen in over five years. Publicis recently surpassed WPP as the world’s largest advertising group by revenue, and the company continues to feel pressure from tech giants and pending mergers within the ad industry.
In a statement, WPP’s board praised Read for his steady leadership during a period of disruption and innovation. Mark Read highlighted the strengthened client partnerships, creative achievements, and growing AI capabilities that now position WPP for future success.
As the company begins the search for a new CEO, industry watchers are eager to see how WPP navigates the evolving dynamics of media, data, and artificial intelligence in the years ahead.
