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Tag: Mark Read

  • WPP launches global data company Choreograph

    WPP launches global data company Choreograph

    MUMBAI: WPP has launched its new global data consultancy arm Choreograph, to help clients realise the value of their first-party data, consult on and implement their data and technology strategies, and advise on privacy-first approaches to navigate the fast-changing data landscape.

    WPP Choreograph will help clients create and manage their first-party data assets and activate them for media buys as third-party trackers phase out. Accessible to clients through GroupM’s media agencies, Choreograph will offer data and identity management consulting, audience and insight-driven media planning, AI-driven media optimisation and predictive analytics. The group will also help clients with strategies around premium media supply, ad verification and data ethics. 

    “We have a host of products and tools across WPP that we need to simplify, rationalise and make investments in, in order to help clients own their first-party data,” said GroupM global CEO Christian Juhl.

    Agencies can access Choreograph tools through WPP Open, a common platform housing the applications, best practices and frameworks across the holding company. The group is “another important step in our simplification strategy,” WPP CEO Mark Read said in a statement.

    “We are at an inflection point in the industry, where brands have an imperative to leverage their own first-party data to make advertising more relevant, effective and personal while fully respecting consumer privacy,” he said. “We must also use data to gain insights, shape our creative work and measure results – and this requires a holistic approach that this integrated offering brings by enabling data to flow across client, agency and media owners.”

    WPP will continue to build out Choreograph through acquisitions and partnerships, and has “almost unlimited investment budget to do what we need to do for clients,” Juhl said. The group will also look to hire talent from data and technology organizations, as opposed to agencies.

    Choreograph will operate as part of GroupM, with GroupM North America CEO Kirk McDonald extending his remit to lead the new company. McDonald is joined by a seasoned data and technology leadership team from across WPP along with more than 700 technologists, product developers and data scientists.

  • WPP to launch two co-location campuses in India

    WPP to launch two co-location campuses in India

    MUMBAI: As part of its global growth strategy, WPP will invest in two co-location campuses in India. The roll-out will commence with more than 3,800 people moving into a new Mumbai campus in late August, while a Gurugram campus will be set up next year.

    All co-locations will support the WPP community with world-class facilities. The campuses include conducive spaces for talent to work and engage in collaboration and will also provide clients with easier access to WPP’s network of agencies.

    WPP CEO Mark Read said, “India represents a region with immense opportunities for WPP. We are committed to building further momentum for our businesses there, through our campus investments. Having modern, dynamic workplaces creates real impact for our people, and enables collaboration and ideas to thrive. We work with some of the most progressive clients and teams in India and we want to support their efforts in creating outstanding work.”

    WPP’s new Mumbai campus will be named BAY99, which alludes to the city’s historical roots and is also the campus’ postal code reference. Situated within The Orb, a brand-new complex next to the international airport in the Sahar area, the location offers various amenities, including convenient transport and social options. The Orb complex will also offer more than 40 dining and entertainment options within walking distance for staff to enjoy.

    In a first for WPP’s India offices, the co-location will bring together more than 16 companies under one roof, with a space of 380,000 square feet over a 10-year lease. On-site, staff will enjoy a host of modern facilities, ranging from a rooftop terrace, recreation lounge, library, cafeteria and more.

    Commenting on the new campus, WPP country manager for India CVL Srinivas said, “India is one of the most exciting markets for WPP with great growth potential. By investing in co-location campuses in key cities, we are bringing to life our vision to lead the market as a creative transformation company and to build a strong, cohesive WPP community. We support some of the biggest brand names in India and more than ever, clients want to be connected to easy processes and solutions, as well as a complete suite of services. The new campus means our teams will have increased access to each other’s expertise and this will go far in enabling our talent to do their very best work for clients.”

  • WPP creates new brand experience agency VMLY&R

    WPP creates new brand experience agency VMLY&R

    MUMBAI: Advertising giant WPP has launched a new agency, VMLY&R, uniting two leading brands to deliver a contemporary, fully integrated digital and creative offering to clients on a global scale.
    VMLY&R’s proposition will combine brand experience and brand advertising, drawing on the complementary expertise of VML and Y&R to create connected brands that drive value for clients.
    The new agency will be led by global chief executive officer Jon Cook, who is currently global CEO of VML.
    Jon will report to Mark Read, chief executive officer of WPP.
    David Sable, former global CEO of Y&R, will continue to support Jon, VMLY&R and its clients as non-executive chairman as he transitions to a new role in WPP.

    Y&R is known for building many of the Fortune 500’s biggest brands. Its renowned strategic approach, married with innovation and creative talent, has led to some of the most famous and culturally transformative campaigns around the world. Y&R developed the world’s first and largest brand management tool, its proprietary BrandAsset Valuator, which fuels both strategic and creative decisions with data and insights.
    VML has established itself as one of the most forward-looking agencies in today’s marketplace – blending award-winning creativity with deep expertise in digital marketing.
    Mark Read said: “VMLY&R will be a powerful brand experience offering and a core agency brand for WPP. VML and Y&R have distinct and complementary strengths spanning creative, technology and data services that make them a perfect match. This is an important step as we build a new, simpler WPP that provides clients with a fully integrated offering and easy access to our wealth of talent and resources.”
    Jon Cook added, “I’m thrilled for the VMLY&R team as we start this journey together and harness the best of each agency to deliver culturally relevant world-class work. The landscape of our industry is changing rapidly, and we are committed to being an invaluable partner to CMOs around the world. I look forward to leading this unprecedented unification of two exceptional agencies.”
    VMLY&R will be an agency of more than 7,000 people, and one of WPP’s principal brands. It will be fully operational in early 2019.

  • Wunderman acquires Amazon consulting agency 2Sales

    Wunderman acquires Amazon consulting agency 2Sales

    MUMBAI: Wunderman, the leading global digital agency and a WPP company has acquired 2Sales International, an e-commerce consulting agency that supports global brands in building their business on Amazon and other online marketplaces.

    2Sales will become part of Wunderman’s growing global commerce offering, Wunderman Commerce.

    The acquisition further strengthens Wunderman Commerce’s Amazon expertise across supply chain, operations and assortment planning, content/search optimisation and promotional management, particularly in European markets where Amazon’s market share is growing rapidly, and where their broader consumer influence is becoming increasingly important to clients. 

    2Sales employs 66 people in Luxembourg, and is a one-stop Amazon solution that utilises automated processes to optimise content generation, sales promotions across eight international Amazon platforms. Clients include ACCO, Columbia, Fiskars and SC Johnson.

    Wunderman Commerce global CEO Neil Stewart says, “For brands to win on Amazon requires tools and techniques that come with direct knowledge and expertise, something 2Sales has mastered over the years by working with over 150 brands. We are delighted that they are joining the Wunderman Commerce family, fortifying our Amazon capabilities across EMEA, and supporting our ability to provide multichannel digital commerce services to our brand clients.”

    2Sales CEO Helmut Rieder adds, “This is an exciting time for 2Sales as it will enable us to extend our marketplace services and Amazon capabilities to Wunderman Commerce’s global client base. Wunderman Commerce has established itself as the go-to agency in defining and delivering digital commerce strategies across all online channels, and we are thrilled to now be a part of it.”

  • Mark Read appointed WPP CEO & ED

    Mark Read appointed WPP CEO & ED

    MUMBAI: Global media agency WPP today announced the appointment of Mark Read as chief executive officer and his appointment to the Board of WPP as an executive director with immediate effect.

    WPP Chairman Roberto Quarta said, “The Board carried out a rigorous selection process, assessing internal and external candidates. That process, alongside Mark’s wise and effective stewardship of the business in the last few months, left us with no doubt that he is the right leader for this company, and we are delighted to announce the Board’s unanimous decision to appoint him as Chief Executive Officer of WPP.”

    “Recognised for his leadership throughout the industry, he has an intimate understanding of the business, he enjoys very strong internal support, and he has earned the respect and endorsement of our clients with his constant focus on their needs. He has played a central role in many of WPP’s most successful investments and initiatives, and he has deep experience at board and operational level. Most recently, Mark led the transformation of Wunderman into one of the world’s top digital agencies, and he understands the importance of culture in creating successful organisations. In short, he is in every way a 21st century CEO. WPP is a world leader in communications services. The priority for the Board and the task ahead for Mark and the new management team is to build on this position of strength, while pursuing a clear vision for change and value creation.”

    Mark Read said: “WPP is a great company with exceptional people and strong relationships with clients who place a high value on our work. Few organisations have our global reach – 130,000 people delivering results for clients in 112 different countries. Fewer still have our powerful combination of creativity and expertise in technology and data.Our industry is going through a period of structural change, not structural decline, and if we embrace that change we can look ahead to an exciting and successful future. Our mission now is to release the full potential that exists within the company for the benefit of our clients, to accelerate our transformation and simplify our offering, and to position WPP for stronger growth.”

    “To achieve that we need to foster a culture that attracts the best and brightest: inclusive, respectful, collaborative, diverse. What makes our company special is its people, and I am very proud to have been given the chance to build a new WPP with them,” Read added.

    Roberto Quarta has resumed his role as non-executive chairman on the appointment of Mark Read as chief executive officer.

    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. The Board would like to thank him for his efforts, alongside Mark and the rest of the executive team, during a period of significant change for WPP.

  • WPP learns to live without Martin Sorrell

    WPP learns to live without Martin Sorrell

    MUMBAI: British multinational advertising and public relations company WPP has decided to review its policies and codes of conduct and how these can be improved upon. The agency’s chief operating officer Mark Read in a staff memo said that the review will be conducted by leadership teams throughout the group. 

    He did not respond to allegations in reports in the Financial Times and the Wall Street Journal which stated that its former CEO Martin Sorrell resigned in the midst of investigations of having paid company money (some 300 pounds)  for services to a sex worker in a Mayfair brothel. Additionally, there were allegations in the reports that Sir Martin had a bullying nature towards junior employees and was curt with them. 

    Instead Read  stated in the memo that “Although we can’t comment on specific allegations, I feel we should remind ourselves of and reinforce the kind of values we want and need to have within every part of our business: values of fairness, tolerance, kindness and respect.”

    He added: “It should hardly need saying that all WPP working environments must be places where people feel safe and supported. They must also be places where people are able to raise concerns if they want to, and where those concerns are dealt with when they need to be.”

    The memo also mentioned about WPP’s helpline, Right to Speak. Read mentioned that the service was available for everyone across the group that allows them to raise issues without fear of reprisal. The Right to Speak service is independently operated and protects the identity of anyone who would rather not speak directly to their respective line manager or senior official about their concerns. 

    The company also had its annual general meeting with its shareholders on Wednesday, during the course of which a section of shareholders protested against the appointment of WPP chairman Roberto Quarta, the handling of the Sorrell exit and the payouts being planned for him in the form of share awards, as well as the fact that he was not  asked to sign a non-compete agreement when he departed from the agency last month, amidst controversy. 

    WPP chairman Roberto Quarta said that there was no basis to cancel Sorrell’s share awards as the company did not have any proof of misconduct. “The contract required Martin to be treated as having retired unless a definition of gross misconduct would be satisfied, which it could not, and on which the board had clear legal advice.”

    As far as the non-compete clause and the payout were concerned, Quarta stated that the conditions of Sir Martin’s employment contract predated the current board. This despite, it  managed to get him to take cuts in pay and benefits at a time when the agency had put up a stellar performance in 2015. 

    Quarta has also started an investigation within the organisation on how information about allegations against Sorrell leaked into the media.

    Read who is tipped to take over CEO was quoted by the BBC as saying that “Martin was a hard-working and hard-driving chief executive. I don’t recognise the bullying nature of some of the allegations.”

    Sorrell  has denied the allegations which have appeared in the media but decline to say anything more.

    Read meanwhile said he has spent time with group agencies and clients over the last eight weeks, reassuring them of WPP’s health today and going forward. Disclosed he in the note: “There is tremendous positivity and confidence about the future of the business. Let’s stay focused on that, and continuing to build a company we are all proud of.  We all want WPP and its agencies to continue to be home to the world’s best talent, which means creating a positive, supportive and inclusive culture in every office. More importantly, it’s the right thing to do.”

  • Sir Martin Sorrell says ta-ta to WPP, Roberto Quarta becomes exec chairman

    Sir Martin Sorrell says ta-ta to WPP, Roberto Quarta becomes exec chairman

    MUMBAI: A first gen entrepreneur of Ukrainian descent, he rose out of nowhere to build the world’s largest advertising group.  And late last night  – amidst investigations into charges of personal misconduct by the WPP board – Sir Martin Sorrell packed up his things and shockingly announced that he was saying ta-ta to the CEO’s position and moving out of the corner office.

    “Obviously I am sad to leave WPP after 33 years. It has been a passion, focus and source of energy for so long,” stated Sorrell in an emotional note to WPP staff.  “However, I believe it is in the best interests of the business …in your interest, in the interest of our clients, in the interest of all shareowners, both big and small, and in the interest of all our other stakeholders, it is best for me to step aside….the current disruption is putting too much unnecessary pressure on the business.”

    He added: “We have weathered difficult storms in the past. And our highly talented people have always won through, always. I leave the company in very good hands as the board knows… Nobody, either direct competitors or newly-minted ones can beat the WPP team, as long as you work closely together, whether by client and/or country or digitally.”

    WPP released a statement stating that the change would become effective immediately and that the advertising behemoth’s chairman  Roberto Quarta would become executive chairman until the company could appoint a new chief executive. Sir Martin would of course assist with the transition.  It added that the 73 year old  would be “treated as having retired” and that his share awards would be “pro-rated in line with the plan rules and will vest over the next five years, to the extent group performance targets are achieved.”

    WPP’s corporate development director and chief operating officer for Europe Andrew Scott and , Wunderman CEO Mark  Read would don the mantle of co-chief operating officers. Said Sorrell in his note: “We have had a succession plan in place for some time. A new generation of management, led by Mark Read and Andrew Scott , are well qualified and experienced in the board’s opinion, to deal with the geographic and technological opportunities and challenges our industry faces”

    “The previously announced investigation into an allegation of misconduct against Sir Martin has concluded,” the WPP statement read. “The allegation did not involve amounts that are material.”

    Born to Jewish parents who were from Kiev, Sorrell began his career in the renowned and trendy ad agency Saatchi & Saatchi (which fashioned winning electoral campaigns for Britain’s conservative prime minister Margaret Thatcher) in 1975. He worked closely with the brothers Saatchi (Charles and Maurice) and helped fashion its rapid growth, before going solo and acquiring a shopping basket manufacturer Wires & Plastic Products (WPP).

    He used that firm as a vehicle to gobble up various other global ad icons such as Ogilvy & Mather, Young & Rubicam and another 18 other advertising service providers over three years. WPP today has  130,000 employees in 112 countries, and a market valuation of around 22 billion pounds, or about $31 billion.

    Along the way as his legend grew – so did the amounts he took as payments for his hard labour which caused heartburn to investors and shareholders.  In 2016 when he took a pay packet of 70 million pounds and the empire struck back with protests amongst the community about all his financial excesses.

    And last month  amidst slowing down of revenues and income and the growing clout of the FANGS  – the board commenced an investigation charging Sorrell with personal misconduct and misuse of the company’s assets.

    Sorrell’s last few words in his farewell note will not only tug at WPP staff’s heartstrings but almost anyone’s.

    Said he: “I shall miss all of you greatly. You have given me such excitement and energy and I wanted to thank you for everything you have done and will do for WPP and me. As some of you know, my family has expanded recently, WPP will always be my baby too.As a Founder, I can say that WPP is not just a matter of life or death, it was, is and will be more important than that. Good fortune and Godspeed to all of you … now Back to the Future.”