As the CEO of the world’s largest marketing and advertising holding company abruptly steps down, the industry reflects on what’s next for WPP and for advertising itself
AT 73, MARTIN SORRELL was in no hurry to bid adieu to the most powerful position in the advertising and marketing industry — the chief of WPP, a position he occupied, and grew in stature, for over 33 years. Earlier this month, however, the unthinkable happened. Sorrell is no longer the WPP boss, and the holding company was confronted with the harsh reality that it had no succession plan in place.
Knighted by the Queen in the year 2000, Sorrell, has been celebrated for his contribution to British business, making WPP an influential leader on the global stage. The board of WPP had appointed independent counsel to conduct an investigation in response to an allegation of personal misconduct against Sorrell, also stating that the allegations did not involve amounts that were material to WPP.
Sorrell had unreservedly denied all allegations initially, but as the investigation reached its natural conclusion, on 14 April, 2018, he decided to step down with immediate effect. Roberto Quarta, chairman of WPP, was named executive chairman until the appointment of a new chief executive officer.
WPP supported this with a joint chief operating officer (COO) structure, naming Mark Read, CEO of Wunderman and WPP Digital, and Andrew Scott, WPP corporate development director and chief operating officer, Europe, as the joint COOs of WPP.
Even as Sorrell will be available for the transition period, it would not involve him in the choice of the successor CEO of WPP — a position that is right on top of the world of advertising.
هذه القصة مأخوذة من طبعة April 28, 2018 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة April 28, 2018 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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