WPP has appointed Microsoft's top executive Cindy Rose as its new CEO amidst challenges of falling revenues, client losses, and a declining share price.
Rose is set to take the reins on 1 September 2025, succeeding Mark Read who will step down after a seven-year tenure and over thirty years with the company. Read will assist in the transition until year-end, as reported by .
The move was announced following WPP's alarming trading update just a day prior, which disclosed a steeper revenue decline than anticipated and significant job cuts within its media division.
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The FTSE 100 company now anticipates a second-quarter organic revenue fall of 5.5 to 6 percent, substantially below its initial forecast of a two percent decrease, and has revised its full-year outlook to a 3–5 percent contraction.
Following the update, shares tumbled by 13 percent on Wednesday morning, erasing millions from WPP's market capitalisation and pushing it beneath the £5bn threshold.
Rose, who currently serves as Chief Operating Officer for Global Enterprise at Microsoft, has been a non-executive director on WPP's board since 2019.
Her selection signals a strategic shift for WPP as it aims to adapt to an industry increasingly influenced by technology, AI, and data-driven marketing strategies.
"WPP is a company I know and love – not only from my six years on the Board but as a client and partner for many years before that – and I couldn't be happier or more excited to be appointed as CEO," Rose commented on her appointment.
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"We continue to build market-leading AI capabilities alongside an unrivalled reputation for creative excellence and a preeminent client list" the statement read.
Cindy Rose has been appointed as CEO of WPP
Cindy Rose has an impressive track record from her time at Vodafone, Virgin Media, Disney, and most recently Microsoft, where she aided large enterprises in leveraging digital and AI tools for business transformation – expertise that WPP is counting on to stimulate growth.
Mark Read's anticipated departure comes after speculation grew due to WPP's shrinking market cap and unmet projections.
"After seven years as CEO, I know that I am leaving WPP in excellent hands," Read commented. "Cindy brings deep experience of technology and AI and has successfully run large global organisations with talent at their core."
Rough hand for the incoming WPP chief
The new WPP chief, Cindy Rose, steps into a role amidst significant structural challenges within the company.
WPP's media investment arm, which includes EssenceMediacom, Mindshare, and Wavemaker, has initiated extensive layoffs, referred to internally as "severance action," aiming to cut costs by £150m.
Despite these measures, analysts remain cautious, suggesting that the savings will likely have a "broadly neutral impact" on the financial outcomes for this year.
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Furthermore, WPP has faced considerable account losses in 2024, including Mars and Coca-Cola's US media business, the full financial effects of which are yet to be realised.
Analysts have pointed out that the group is finding it difficult to stay pertinent in a sector that's increasingly leaning towards data-driven, technology-centric solutions – an area where competitors such as Accenture Song and Publicis Groupe have been assertive.
Equity analyst at Hargreaves Lansdown, Aarin Chiekrie, remarked: "WPP's start to the year was poor, and its first-half performance fell short of its original underwhelming guidance. Net revenue is now set to fall by between 3 and 5 per cent over the full year due to client losses and a tough macro environment."
The decision to appoint Rose shortly after WPP was named "Creative Company of the Year" at Cannes Lions highlights a stark contrast between industry recognition and the financial situation.