WPP CEO Mark Read to Step Down After Seven Years Amid 2025 Challenges

Mark Read, after nearly seven years as CEO and over 30 years with WPP, announced he will step down at the end of 2025 amid a challenging period for the advertising giant. His tenure saw significant transformation, including agency brand consolidation, streamlined IT operations, and a strong focus on artificial intelligence, notably with the launch of the WPP Open AI platform and the rebranding of GroupM to WPP Media. Despite losing major clients such as Coca-Cola’s North America business and ending a two-decade relationship with Paramount, Read highlighted that WPP works with four of the world’s five most valuable companies and has achieved high client satisfaction and creative accolades like Cannes Lions Creative Company of the Year. The company faces pressures including a drop in share price and competition from rivals like Publicis Groupe, prompting restructuring and staff layoffs. WPP Chair Philip Jansen praised Read's role in modernizing the business and setting it up for future success, while a search for his successor is underway. Read expressed confidence in WPP’s leadership and financial position, emphasizing the company’s creativity and technology-driven future despite recent setbacks.