WPP set to announce Mark Read as the company’s new CEO
The British multinational advertising and public relations company, WPP, has confirmed Mark Read as the firm’s new Chief Executive, BBC News reports.
According to reports, Mr Read will replace Sir Martin Sorrell who, following accusations of personal misconduct, resigned in April.
Having been operating WPP on an interim basis and currently being the co-chief operating officer, Mr Read is set to take over from Mr Sorrell, who first established the company in 1986.
It is anticipated that the appointment could be officially confirmed next Tuesday (4 September) when WPP posts its interim results, according to the Financial Times.
However, a spokesperson commented: “We will not be drawn on the timing of the naming of our next chief executive, nor on who that may be.”
“As soon as there is an agreement with a candidate we will be obliged to make an announcement to the stock exchange.”
The company currently faces fierce competition from giants such as Facebook and Google as advertising becomes increasingly more prominent online.
WPP hasn’t commented on the appointment, however, did confirm that an announcement would be made in September.
It was revealed that after only weeks of Mr Sorrell departing WPP, Mr Read undertook an internal review of the firm’s conduct rules.
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