Announcement • May 02
WPP PLC Appoints Peter Agnefjäll as Non-Executive Director and Audit Committee Member, Effective May 11, 2026 WPP PLC announces the appointment of Peter Agnefjäll to its Board as Non-Executive Director, with effect from May 11, 2026. Peter began his career at IKEA as a graduate trainee in 1995 and held a number of senior positions before serving as Chief Executive Officer and President of the IKEA Group (Ingka Holding B.V.) from 2013 to 2017. During this period, he led the company's growth agenda and move into omnichannel retail, new shopping and distribution formats. Since leaving executive office, Peter has served on a number of boards in a non-executive capacity. He joined the Supervisory Board of Ahold Delhaize, a multinational retailer in 2019 and served as its Chair between 2021 to 2025. From 2018 until recently, he served on the Board of Directors of Orkla ASA, an OBX listed industrial investment company focused on brands and consumer-oriented businesses. He held a non-executive position at Wizz Air between 2018 to 2021 and was a member of the board of advisors of the footwear retailer, Deichmann SE from 2018 to 2023. Peter is a member of the Council on Sustainability Transformation, convened by the specialist sustainability consultancy, ERM. He holds an M.Sc. in Business Administration from Linköping University. On appointment, Peter will become a member of the WPP Board Audit Committee. Announcement • Apr 30
Wpp plc Reaffirms Earnings Guidance for the for 2026 WPP plc reaffirmed earnings guidance for the for 2026. For the period, The company anticipates LFL revenue less pass-through costs to decline in the mid to high-single digits in the first half of 2026 with an improving trajectory in the second half and expect headline operating profit margin for the full year to be 12% to 13%. Announcement • Apr 16
WPP Reportedly Considers Strategic Sale of Burson Amid Corporate Restructuring WPP plc (LSE:WPP) is exploring the sale of Burson (The Burson Group LLC), marking the first major portfolio adjustment under chief executive Cindy Rose. This strategic review, announced on April 13, 2026, indicates Rose's commitment to streamline WPP's operations as it navigates challenging market conditions. The company has enlisted Goldman Sachs to assess potential options for the public relations firm, although both WPP and Goldman Sachs declined to provide further comments on the matter. A potential divestment would represent a significant shift in WPP's focus, particularly as the company has previously sold a majority stake in FGS Global to KKR for GBP 1,300 million. The review of Burson's future comes in light of recent financial results that show WPP's PR division generated GBP 667 million in revenue in Fiscal year 2025, reflecting a 6% like-for-like decline. This downturn is attributed to weaker discretionary spending, notably across Europe. Overall, WPP reported a revenue drop to GBP 13,550 million in Fiscal year 2025, an 8.1% decline, with headline operating profit decreasing by 22.6% to GBP 1,321 million. Since Cindy Rose took the helm in September 2025, she has emphasized simplification through her Elevate28 strategy, which aims to reduce complexities and improve integration across WPP's core offerings in media, creative, production, and technology. Within this framework, the role of public relations appears to be diminishing, leading to speculation that Burson may not fit into WPP's long-term strategic vision. Announcement • Apr 11
Wpp plc Appoints Anne-Isabelle Choueiri as Chief Transformation Officer WPP PLC has announced the appointment of Anne-Isabelle Choueiri as Chief Transformation Officer. In this newly created role, Anne-Isabelle will be responsible for designing, implementing and embedding the operations that underpin Elevate28, WPP's three-year growth plan unveiled in February 2026. She will spearhead initiatives that foster innovation and efficiency to transform WPP's integrated offer to clients, aligned with the company's mission to become the trusted growth partner for the world's leading brands, ensuring that the company shows up differently with agile, outcome-driven solutions that deliver measurable growth. She will lead organisational transformation across WPP, working closely with the company's product and enterprise tech teams to harness AI, technology and data to unlock new capabilities and drive operational excellence. Anne-Isabelle will also partner with the company's people function to make culture a strategic lever for transformation, building an agile, high-performance mindset across the organisation that accelerates change, embeds new ways of working and attracts world-class talent. She joins WPP from The Estee Lauder Companies, where she led enterprise-wide strategic initiatives, including shaping the company's "One ELC" operating model and transforming its enterprise marketing, data and analytics capabilities. She led the transformation and redesign of Enterprise Technology teams and served as a core member of the company's AI taskforce, responsible for leading AI strategy and implementation, including the scaling and adoption of tools as well as driving value realisation from AI across the business. Previously, Anne-Isabelle has held leadership roles at world-class consultancies including Accenture, Masai - a Bain & Co spin-off - and Kearney. She also has a background leading data and digital marketing agencies. Anne-Isabelle will be based in New York and will sit on WPP's Executive Committee. Announcement • Mar 23
WPP plc(LSE:WPP) dropped from FTSE All-World Index (USD) WPP plc(LSE:WPP) dropped from FTSE All-World Index (USD) Announcement • Mar 21
WPP plc, Annual General Meeting, May 08, 2026 WPP plc, Annual General Meeting, May 08, 2026. Location: rose court, 2 southwark bridge road, se1 9hs, london United Kingdom Announcement • Mar 06
WPP Announces Change of CEO of WPP Media U.S, Effective March 4, 2026 WPP has named Nancy Hall CEO of WPP Media U.S. following a months-long search for a leader of the division helmed by WPP Media global CEO Brian Lesser. Hall is stepping into the role after a nine-month stint as the company’s chief client officer. Prior to that, she was North America CEO at Mindshare, a WPP-owned media agency. She brings nearly 25 years of experience to her new post, having worked across adland holding companies including IPG and Conversant, which as part of Epsilon was later acquired by Publicis. In those roles, Hall helped to build out programmatic and tech capabilities designed to drive client outcomes. The news comes five months after the departure of Sharb Farjami, who served in the role for less than two years. Since his exit, Lesser has helmed WPP Media U.S. in an interim capacity. Hall’s appointment is effective immediately. Announcement • Feb 26
Wpp plc Proposes Final Dividend for 2025, Payable on July 3, 2026 The Board of WPP plc has proposed a final dividend of 7.5 pence per share for 2025 (2024: 24.4 pence per share) giving a full year dividend of 15.0 pence per share (2024: 39.4 pence per share). The record date for the final dividend is 5 June 2026 and the dividend will be payable on 3 July 2026. Announcement • Jan 20
WPP plc to Report Fiscal Year 2025 Results on Feb 26, 2026 WPP plc announced that they will report fiscal year 2025 results at 8:00 AM, GMT Standard Time on Feb 26, 2026 Announcement • Dec 22
WPP plc(LSE:WPP) dropped from FTSE 100 Index WPP plc(LSE:WPP) dropped from FTSE 100 Index Announcement • Nov 14
Wpp Appoints Elav Horwitz as First Chief Innovation Officer WPP announced the appointment of Elav Horwitz as its first Chief Innovation Officer, a new role created to solidify its leadership in applied AI and deliver groundbreaking technology-driven solutions for clients. In this new position, Elav will be responsible for connecting WPP's world-leading partners with the company's unparalleled creative and strategic talent. Her remit will focus on fostering a culture of collaboration and agile innovation to drive applied AI and client transformation, and to redefine how clients engage with commerce, create compelling content and shape culture. In her new role, Elav will continue to report to WPP Chief Technology Officer Stephan Pretorius.
A leading voice for responsible technology and innovation, Elav also serves as an advisor to influential groups like the Spotify and Meta Creative Councils, and she's a founding member of the leadership community Chief. Elav's appointment as Chief Innovation Officer underscores WPP's continued investment in technology and data and follows a series of recent hires to bolster WPP's innovation capabilities, including Daniel Barak as WPP's first Global Creative and Innovation Lead, Sarah Salter as VP of Global Partnerships & AI Innovation and Mathieu Albrand as Director of AI Strategy and Innovation. The expanded team will continue to work closely with Elav and Stephan to drive WPP's innovation agenda forward. Announcement • Oct 30
WPP plc Revises Earnings Guidance for 2025 WPP plc revised earnings guidance for 2025. For the period, 2025 guidance -Based on trading year to date and the outlook for the fourth quarter, company expect LFL growth in revenue less pass-through costs of negative 5.5% to negative 6.0% (vs. negative 3% to negative 5% previously). Similarly, company expect headline operating profit margin to be around 13% (vs. previous guidance of down 50 bps to 175 bps year on year excluding the impact of FX). Announcement • Oct 23
WPP plc Launches WPP Open Pro WPP PLC launched WPP Open Pro, a new edition of its AI marketing platform, WPP Open, designed to empower brands of all sizes to plan, create and publish campaigns independently. WPP Open Pro will expand WPP's reach across the global advertising market while also offering an efficient route for existing clients to leverage WPP's platform and tools. WPP Open Pro represents a significant shift in the industry, with WPP being the first of its peers to provide a range of integrated, AI-powered delivery models. The new platform enables WPP to service the evolving needs of its current client base and grasp the opportunity to increase its addressable market of brands that may not have previously had the resources to benefit from its expertise. Built on WPP Open - which will continue to be at the centre of WPP's managed service offering that combines talented global teams with integrated technology - WPP Open Pro packages three powerful, connected functional areas into a simple interface that allows marketing teams, from established enterprises and WPP clients to emerging businesses, to: Plan with AI-powered strategy: users can access WPP's foundational data and insights to develop campaign strategies, better understand audiences and evaluate competitive landscapes quickly. This is powered by AI agents which draw on WPP's deep proprietary, partner and industry data. Create content at scale: marketers can generate on-brand, channel-specific ads and content in seconds, automating production while maintaining brand integrity and driving performance. Publish campaigns: WPP Media clients can seamlessly integrate with, and hand off to, WPP's Open Media Studio for enhanced media execution. Alternatively, the platform allows brands to publish content directly to major ad platforms. Integrated differentiation in a crowded market WPP Open Pro stands apart from competitors by offering a comprehensive, integrated solution for campaign implementation, connecting strategy, content creation and performance optimisation with enterprise-grade consistency. Bringing together some of the most powerful and specialised capabilities of WPP Open, the new platform is an ideal solution for distinct business units or regional teams within a global brand, giving them the freedom to adapt campaigns and personalise content while ensuring global brand compliance. Crucially, it is also designed to help cater to the unserved segment of the worldwide advertising market. It is equally valuable for a performance-based marketer in a fast-moving sector like ecommerce or finance, who needs to rapidly create, test and optimise high volumes of ads to drive measurable outcomes. Furthermore, WPP Open Pro also provides smaller businesses, startups and growing brands with direct access to professional-grade tools and WPP's intelligence, allowing them to generate quality content and publish campaigns, thereby expanding their potential for market growth. Announcement • Oct 16
WPP plc Appoints Keith Weed as Member of Nomination and Governance Committee, Effective 15 October 2025 WPP plc announced that Keith Weed has joined the Nomination and Governance Committee, effective 15 October 2025. The Nomination and Governance Committee membership with effect from 15 October 2025: Philip Jansen as chair, Angela Ahrendts, Senior Independent Director, Tom Ilube, Non-Executive Director, Keith Weed, Non-Executive Director. Announcement • Oct 10
Robbins Geller Rudman & Dowd LLP Announces Class Action Lawsuit Against WPP plc Robbins Geller Rudman & Dowd LLP announced that the WPP class action lawsuit seeks to represent purchasers or acquirers of WPP plc common stock between February 27, 2025 and July 8, 2025, inclusive (the "Class Period"). Captioned Marty v. WPP plc, No. 25-cv-08365 (S.D.N.Y.), the WPP class action lawsuit charges WPP and certain of WPP's top executives with violations of the Securities Exchange Act of 1934. The WPP class action lawsuit alleges that defendants throughout the Class Period created the false impression that they possessed reliable information pertaining to WPP's projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations. In truth, according to the complaint, WPP's optimistic reports of its potential to achieve new client bid wins and retain its existing clientele fell short of reality as WPP's media arm was not equipped to compete effectively and had begun to lose market share to its competitors. The WPP class action lawsuit further alleges that on July 9, 2025, WPP published a trading update for the first half of 2025, alerting investors that WPP had allegedly "seen a deterioration in performance as Second Quarter has progressed," attributing the deterioration to both "continued macro uncertainty weighing on client spend and weaker net new business than originally anticipated," at least in part due to "some distraction to the business" as a result of the continued restructuring of WPP Media a.k.a. GroupM. The complaint also alleges that in a same-day press release, WPP further announced that CEO, defendant Mark Read, "will retire from the Board and as CEO on 31 December 2025." On this news, the price of WPP stock fell more than 18%, according to the complaint. Announcement • Sep 16
WPP Media Appoints Sushant Mishra as Growth Lead – North WPP Media has announced the appointment of Sushant Mishra as Growth Lead – North, where he will be responsible for spearheading the Growth Cluster in the region. In his new role, Mishra will focus on building solutions-led strategies that move beyond conventional media metrics like reach and frequency, and instead address deeper business problem-solving for clients. According to Mishra, the next wave of growth for agencies will hinge on enabling SME segments to scale, with a sharper emphasis on media, technology, and AI-driven outcomes. Mishra brings over 15 years of experience across digital transformation, marketing strategy, and business growth. Most recently, he co-founded Petlicious Superfoods India, where he built a pet food brand focused on sustainability, subscription-led retention, and automation-driven customer engagement. Prior to that, he was Director – Digital & Head of Media at Ola Electric, leading full-funnel digital marketing and driving pre-bookings, awareness, and strategic partnerships during the EV brand’s aggressive growth phase. He also held senior roles at Grofers (now Blinkit) as Senior Director – Digital Marketing & Partnerships, and at Starcom MediaVest Group, where he served as VP & Business Head – North. This appointment signals WPP Media’s intent to deepen its data-driven, SME-centric growth strategy in India’s northern market. Announcement • Aug 29
Andrew Scott to Retire as Chief Operating Officer and from the Board of WPP plc at the End of the Year 2025 WPP plc announced that Andrew Scott has informed the Company that he will retire as Chief Operating Officer and from the Board at the end of the year 2025. Andrew will work with incoming CEO Cindy Rose during that period and thereafter as Senior Advisor to transition his various roles and responsibilities to other senior executives as well as supporting strategy execution. Andrew joined WPP in 1999 as Director of Corporate Development. He held a number of other senior roles, including Chief Operating Officer for Europe, before being appointed global Chief Operating Officer in 2018 where his responsibilities included leading WPP's country structure in key markets. In 2023 he was appointed to the Board. Throughout his time with WPP Andrew has been instrumental to the Company's development and growth. Leading WPP's M&A activity, he has been responsible for many of the acquisitions that helped create the business. Announcement • Jul 10
WPP plc Announces Chief Executive Officer Changes, Effective 1 September 2025 WPP plc announced that Cindy Rose has been appointed as Chief Executive Officer (CEO) of the Company, effective 1 September 2025. Cindy succeeds Mark Read who will step down as CEO on the same date. Mark will continue to work with Cindy to support the transition until the end of the year. Cindy has extensive experience as a leader in the technology, telecommunications, media, entertainment and creative industries gained at world-leading brands. She has spent the last nine years in senior leadership positions at Microsoft where she is currently Chief Operating Officer, Global Enterprise. In this role she helps the world's largest companies use digital technology and AI to drive business transformation. Before being appointed to her current Microsoft role in March 2023, Cindy was President of Microsoft Western Europe and CEO of Microsoft UK. Other previous roles include Managing Director of the UK consumer business at Vodafone and Executive Director of Digital Entertainment and Media Sales at Virgin Media. She also spent 15 years at The Walt Disney Company, ultimately as Senior Vice President and Managing Director of Disney Interactive Media Group, EMEA. Cindy has been a Non-Executive Director on the WPP Board since 2019. She is a graduate of Columbia University and New York Law School, and an Advisory Board Member at Imperial College Business School in London and McLaren Racing. Cindy has British and American citizenship and will be based in both London and New York. She was awarded an OBE in the 2019 New Year Honours in recognition of her services to UK technology. Announcement • Mar 31
WPP plc, Annual General Meeting, May 23, 2025 WPP plc, Annual General Meeting, May 23, 2025. Location: rose court, 2 southwark bridge road, se1 9hs, london United Kingdom Announcement • Mar 11
Bain, WPP Reportedly Plan to Break Up Kantar The Kantar Group Limited is set to be broken up and sold by Bain Capital Private Equity, LP and WPP plc (LSE:WPP), Ivan Levingston and Daniel Thomas of The Financial Times reported. Bain and WPP are seeking to cash in their investment while facing a difficult time for initial public offerings. A source close to the process said the sale of the business would be quicker and a surer way to raise money. Announcement • Feb 12
WPP plc to Report Fiscal Year 2024 Results on Feb 27, 2025 WPP plc announced that they will report fiscal year 2024 results on Feb 27, 2025 Announcement • Jan 02
WPP Appoints Deepa Jatkar as India Head of Its Opendoor, Amazon's Media Unit WPP has named Deepa Jatkar as the India lead for OpenDoor, its specialised unit dedicated to handling Amazon's media planning and buying operations. This appointment marks a strategic move to bolster WPP's capabilities in India, a critical market for Amazon. According to the company, Jatkar joined Wavemaker India in 2023 as chief growth officer, and brings over two decades of experience in media and consumer technology. Previously part of Meta India's global sales and marketing team, she played a key role in the India sales leadership group before transitioning to WPP's Wavemaker. It is understood that at OpenDoor, Jatkar will lead a team that spans multiple disciplines, including media, business consultancy, tech, and public relations, all tailored to meet Amazon's needs. Announcement • Dec 03
KKR European Fund VI, a fund managed by KKR & Co. Inc. (NYSE:KKR) completed the acquisition of an additional 50% stake in FGS Global Inc from WPP plc (LSE:WPP) for approximately $780 million. KKR European Fund VI, a fund managed by KKR & Co. Inc. (NYSE:KKR) entered into an agreement to acquire an additional 50% stake in FGS Global Inc from WPP plc (LSE:WPP) for approximately $780 million on August 7, 2024. Prior to the transaction, KKR held 28% stake in FGS. The proposed transaction is supported by FGS management. The proceeds from the sale of approximately $770 million will be used to reduce WPP's leverage. For the period ending December 31, 2023, FGS Global Inc reported total revenue of approximately $470 million, operating profit of $87 million and EBITDA of $90 million. The board of WPP considers that the terms of the transaction are fair and reasonable as far as WPP shareholders are concerned.
The transaction is subject to regulatory approvals and other customary closing conditions. The deal has been approved by the board of directors of WPP. The transaction is expected to close before the end of 2024. As of August 7, 2024, the transaction is expected to close in Q4 2024. The transaction is reflecting significant value accretion to WPP shareholders since 2020.
Goldman Sachs International acted as financial advisor to WPP plc. Melissa Sawyer, Matt Goodman, John Karol, Isaac Wheeler, Ha Jin Lee, Andrew Thomson, Heather Coleman and Mario Schollmeyer of Sullivan & Cromwell LLP acted as legal advisors to FGS Global Inc. Alvaro Membrillera, Pelin Demirdere Eski, Adam Wollstein, Steven Choi, Anna Van de moortel, Ian Barratt, Jia Meng and Emma Flett of Kirkland & Ellis acted as legal advisors to KKR & Co. Inc.
KKR European Fund VI, a fund managed by KKR & Co. Inc. (NYSE:KKR) completed the acquisition of an additional 50% stake in FGS Global Inc from WPP plc (LSE:WPP) on December 3, 2024. Announcement • Nov 14
WPP plc (LSE:WPP) acquired remaining unknown minority stake in The & Partners London Limited. WPP plc (LSE:WPP) acquired remaining unknown minority stake in The & Partners London Limited on November 13, 2024. T&Pm will continue to operate as a standalone multi-disciplinary agency, while collaborating closely with other WPP agencies. As part of the move, T&Pm is placing WPP’s AI-powered marketing operating system, WPP Open, at the core of its innovative marketing models, to drive further growth through cutting-edge solutions for clients.
WPP plc (LSE:WPP) completed the acquisition of remaining unknown minority stake in The & Partners London Limited on November 13, 2024. Announcement • Oct 23
WPP plc Reiterates Earnings Guidance for the Full Year 2024 WPP plc reiterated earnings guidance for the full year 2024. For the year, the company reiterated LFL revenue less pass-through costs of -1% to 0%, with fourth quarter facing a tougher comparative than third quarter and macro uncertainty. Improvement in full year 2024 headline operating profit margin of 20-40 bps (excluding the impact of FX). Announcement • Aug 09
KKR European Fund VI, a fund managed by KKR & Co. Inc. (NYSE:KKR) entered into an agreement to an additional 50% stake in FGS Global Inc from WPP plc (LSE:WPP) for approximately $780 million. KKR European Fund VI, a fund managed by KKR & Co. Inc. (NYSE:KKR) entered into an agreement to acquire an additional 50% stake in FGS Global Inc from WPP plc (LSE:WPP) for approximately $780 million on August 7, 2024. Prior to the transaction, KKR held 28% stake in FGS. The proposed transaction is supported by FGS management. The proceeds from the sale of approximately $770 million will be used to reduce WPP's leverage. For the period ending December 31, 2023, FGS Global Inc reported total revenue of approximately $470 million, operating profit of $87 million and EBITDA of $90 million. The board of WPP considers that the terms of the transaction are fair and reasonable as far as WPP shareholders are concerned.
The transaction is subject to regulatory approvals and other customary closing conditions. The deal has been approved by the board of directors of WPP. The transaction is expected to close before the end of 2024. Goldman Sachs International acted as financial advisor to WPP plc. Melissa Sawyer, Matt Goodman, John Karol, Isaac Wheeler, Ha Jin Lee, Andrew Thomson, Heather Coleman and Mario Schollmeyer of Sullivan & Cromwell LLP acted as legal advisors to FGS Global Inc. Alvaro Membrillera, Pelin Demirdere Eski, Adam Wollstein, Steven Choi, Anna Van de moortel, Ian Barratt, Jia Meng and Emma Flett of Kirkland & Ellis acted as legal advisors to KKR & Co. Inc. Announcement • Aug 07
WPP plc Declares Interim Dividend for the Six Months Ended June 30, 2024, Payable on 1 November 2024 WPP plc declared interim dividend of 15.0p (2023: 15.0p) for the six months ended June 30, 2024. The record date for the interim dividend is 11 October 2024, and the dividend will be payable on 1 November 2024. Announcement • Jul 30
WPP plc Announces Board Changes WPP plc announced the appointment of Philip Jansen to its Board as a Non-Executive Director and Chair-designate. He will join the Board on 16 September 2024 and will succeed Roberto Quarta as Non-Executive Chair of WPP from 1 January 2025. Philip was Chief Executive of BT Group from 2019 to February 2024. Before that he was CEO of Worldpay, the technology-led global payments services group. Previous roles include CEO and then Chairman of Brakes Group, and a variety of senior positions in Sodexo Group. Philip began his career at Procter & Gamble, going on to hold marketing director roles at Dunlop Slazenger and Telewest before moving into general management first at Telewest and then MyTravel. He was a non-executive director of Travis Perkins for four years. Philip led Worldpay through the UK's largest ever fintech IPO, having overhauled its technology infrastructure and invested in areas such as data analytics and cyber security. He also led the merger with US counterpart Vantiv to create Worldpay Inc. At BT Group, the global provider of telecommunications and related digital services, he oversaw the strategy to modernise, future-proof and simplify the business. In addition to being Chair, on joining the Board Philip Jansen will be appointed as a member of the Compensation Committee and the Nomination and Governance Committee and succeed Roberto Quarta as Chair of that Committee on 1 January 2025. Roberto Quarta will retire from the Board on 31 December 2024. Announcement • Jun 28
WPP plc to Report First Half, 2024 Results on Aug 07, 2024 WPP plc announced that they will report first half, 2024 results on Aug 07, 2024 Announcement • Apr 26
WPP plc Reaffirms Revenue Guidance for the Year 2024 WPP plc reaffirmed revenue guidance for the year 2024. For the year, LFL revenue less pass-through costs growth expected to be 0-1%. Announcement • Mar 22
WPP plc, Annual General Meeting, May 08, 2024 WPP plc, Annual General Meeting, May 08, 2024, at 10:00 Coordinated Universal Time. Location: Rose Court, 2 Southwark Bridge Road, London SE1 9HS London . United Kingdom Announcement • Feb 22
WPP plc Proposes Final Dividend for 2023, Payable on 5 July 2024 The board of WPP plc proposing a final dividend for 2023 of 24.4 pence per share, which together with the interim dividend paid in November 2023 gives a full-year dividend of 39.4 pence per share. The record date for the final dividend is 7 June 2024, and the dividend will be payable on 5 July 2024. Announcement • Feb 02
WPP plc Reaffirms Revenue Guidance for the Year 2023 and Provides Revenue Guidance for the Year 2024 WPP plc reaffirmed revenue guidance for the year 2023 and provided revenue guidance for the year 2024. 2023 LFL revenue less pass-through costs expected to be 0.9% consistent with guidance given at third quarter of 2023 of 0.5% - 1.0%.2024 LFL revenue less pass-through costs growth of 0%-1%. Announcement • Jan 13
WPP plc to Report Fiscal Year 2023 Results on Feb 22, 2024 WPP plc announced that they will report fiscal year 2023 results on Feb 22, 2024 Announcement • Jan 11
WPP Reportedly to Weigh Options for 40% Stake in Bain’s Kantar WPP plc (LSE:WPP) is considering options to exit its 40% stake in market-research business Kantar as the British owner of advertising agencies seeks to raise cash and address a faltering share price, according to people familiar with the matter. The London-based company is working with an adviser as it studies potential alternatives, including an outright sale of the holding that it retained after selling 60% of Kantar to buyout firm Bain Capital in 2019, the people said, asking not to be identified as the matter is private. A deal could given an equity value of about $3 billion to $4 billion for Kantar, which also has around $4 billion of debt, the people said. Announcement • Nov 11
WPP Appoints Jane Geraghty as Chief Client Officer WPP has announced the appointment of Jane Geraghty as Chief Client Officer. Based in New York, she will be responsible for leading WPP's key client relationships and overseeing the company's Global Client Leaders. Jane is currently CEO of Landor & Fitch, WPP's specialist brand and design consultancy, and will remain a board member of Landor & Fitch as Executive Chairman. She succeeds Lindsay Pattison, who is moving to become WPP Chief People Officer. Jane has been with Landor & Fitch for over 12 years, initially as the leader of Landor London and then President EMEA until the end of 2017, when she was appointed CEO. She brings nearly 30 years of marketing, brand and communications experience, having worked on both sides of the Atlantic in top-tier advertising and marketing services companies including Saatchi & Saatchi, McCann-Erickson and Ogilvy New York. Jane has also worked in broadcast as Content Development Director at ITV and, immediately before joining Landor, she led the London office of communications consultancy Naked. Jane is a passionate advocate for equity in the workplace. This year she will co-chair the Reykjavik Global Forum for Women Leaders alongside the Prime Minister of Iceland. She was named in the HERoes Women Role Model Top 100 in 2023 and is the executive sponsor of the UK chapter of UNITE, WPP's grassroots LGBTQ+ community. She will assume the role of WPP Chief Client Officer in January 2024. Announcement • Nov 02
WPP plc Appoints Lindsay Pattison as Global Chief People Officer WPP plc announced the appointment of Lindsay Pattison as Global Chief People Officer, with responsibility for the company's people strategy and operations. Pattison succeeds Jennifer Remling, who is leaving to become Chief People Officer at Warner Bros. Discovery. Pattison is currently WPP's Global Chief Client Officer, leading WPP's relationships with its major clients - a role she has held since 2018. She is responsible for developing and supporting the Global Client Leaders of the company's largest clients, representing a third of WPP's revenue. Prior to that, she held a number of leadership roles at WPP, GroupM and media agency Maxus. She has been a passionate advocate for talent throughout her career and will bring this passion and her business and client experience to the role of Global Chief People Officer. She is committed to developing the best talent and taking action to improve diversity at the highest levels of business, with a strong track record of delivering initiatives to improve gender diversity in particular. As CEO of Maxus, she launched 'Walk The Talk', an initiative to help senior women reach their full potential, and after moving to her current position she sponsored the scheme at a global level for WPP. More than 3,000 female leaders have participated to date around the world. Pattison has also played an important role on WPP's Diversity & Inclusion Council, sponsored the Elevate programme for Black female talent and, as a former President of WACL (Women in Advertising and Communications Leadership), mentored early-career talent across the industry. She is an independent non-executive director for the Rugby World Cup (England 2025) Limited, which will deliver the Women's Rugby World Cup in 2025. She also serves on the board (including as chair of the compensation committee) of Waldencast, the NASDAQ-listed global beauty and wellness company; the advisory board of Planet First Partners, a fund focused on sustainable products and services; Meta's Global Client Council; and the UK EFFies advisory board, focused on driving effectiveness in marketing. Lindsay served two terms on the WEF Global Agenda Council on the Future of Media, including two years as co-chair. Pattison and Jennifer Remling will work closely together on the transition until the end of the year, taking up their new positions in January 2024. An announcement regarding Pattison's successor will be made shortly. Announcement • Oct 11
WPP plc to Report Nine Months, 2023 Results on Oct 26, 2023 WPP plc announced that they will report nine months, 2023 results on Oct 26, 2023 Announcement • Sep 08
Wpp plc Announces Appointment of Andrew Scott as an Executive Director to the Board WPP plc announced that its Chief Operating Officer, Andrew Scott, has been appointed as an Executive Director to the Board of WPP, with immediate effect. Andrew joined WPP in 1999 as Director of Corporate Development. He held a number of other senior roles including Chief Operating Officer for Europe before being appointed global Chief Operating Officer in 2018. Andrew will be paid in accordance with the Directors' Compensation Policy approved by shareholders on 17 May 2023 as set out in the 2022 Annual Report. Andrew will receive an annual base salary of £725,000 in line with his existing compensation arrangements, be eligible to receive annual bonus and Executive Performance Share Plan awards in line with the Policy; be subject to shareholding requirements in line with the Policy and receive a pension contribution in line with those of the wider workforce in the UK. Further details of his remuneration arrangements will be set out in the 2023 Directors' Remuneration Report. Announcement • Jul 12
WPP plc to Report First Half, 2023 Results on Aug 04, 2023 WPP plc announced that they will report first half, 2023 results on Aug 04, 2023 Announcement • Jun 22
WPP plc (LSE:WPP) acquired a 30% stake in Majority from Shaquille O’Neal. WPP plc (LSE:WPP) acquired a 30% stake in Majority from Shaquille O’Neal on June 20, 2023. Shaquille O’Neal set up the creative agency Majority in 2021 alongside chief executive Omid Farhang. Majority’s major clients include Coca-Cola, the NBA and Match Group, which owns the dating app Tinder. Majority is based in Atlanta, Georgia, where WPP this month opened a major new office hub. The group also owns agencies including GroupM, Ogilvy and Wunderman Thompson. Mark Read, chief executive of WPP said WPP excited to be working with Omid and the team as they continue to do great work and change our industry.
WPP plc (LSE:WPP) completed the acquisition of a 30% stake in Majority from Shaquille O’Neal on June 20, 2023. Announcement • Jan 20
WPP plc to Report Fiscal Year 2022 Results on Feb 23, 2023 WPP plc announced that they will report fiscal year 2022 results on Feb 23, 2023 Seeking Alpha • Oct 31
WPP: Looking Cheap For A Global Ad Giant Summary
WPP plc reported revenue growth in its most recent quarter and raised its full-year revenue forecast.
Longer term, I expect WPP to suffer from an advertising downturn.
But I think the long-term strengths of the business make the current price attractive and I retain my "buy" rating.
U.K.-based advertising holding group WPP plc (WPP) has so far not shown much negative impact from advertising slowdowns reported by other companies. I expect that to change in due course, but continue to be upbeat about the firm’s long-term prospects.
I last covered the name in July with my bullish note WPP: Price Decline Offers Value. Since then, the shares have fallen 11%.
Performance remains solid for now
As recent U.S. tech share markdowns have shown, advertising is clearly starting to show some impact from customers tightening their belts.
Last week, WPP released its third quarter results. They showed that, for now at least, revenue has been more than holding up.
company quarterly results announcement
Source: company quarterly results announcement (footnotes omitted)
The announcement said,
We enter the last quarter of the year with confidence, based on the leading competitive position of our businesses, our client momentum and the knowledge that the actions we have taken to strengthen WPP leave us well placed to support our clients in navigating the economic uncertainties ahead.
In fact, the company’s bullishness is shown by the fact that it raised its full-year revenue guidance. However, at the same time, the company adjusted its forecast headline operating margin improvement target to 30-50 basis points, compared to around 50 basis points previously. While that may sound relatively minor, I see it as a sign that while inflation may be helping the company to build revenue by increasing billing rates, for example, it is also adding costs that could slow margin improvement.
Western continental Europe already saw revenue contraction in the third quarter on a like-for-like basis (of 2.1%). If that slowdown also shows itself in other markets, such as North America (which reported 4.7% like-for-like growth in the last quarter), the current bullishness could turn out to be short-lived. Even if 2022 comes in line with expectations, 2023 may turn out to be more challenging. The North American figure is already down sharply from the second quarter figure of 12.7%.
The company – which reports in pounds – has also benefitted in its reporting from recent sterling weakness. Revenue growth of 10.3% year-on-year in the third quarter turns into only 1.4% when exchange rate impacts are excluded.
I still think WPP deserves credit for a solid performance in an increasingly challenging market. But I also see grounds for concern that the business could weaken in 2023, with a combination of low revenue growth or revenue contraction and cost inflation.
WPP retains long term strength
But while the short- to medium-term outlook may seem relatively unexciting, I think the long-term investment case for WPP remains attractive.
It has a leading collection of advertising agencies, which can continue to form the basis of long-term financial success. The company has also been expanding its digital footprint in recent years to reflect (arguably belatedly, but better late than never) the leading role that digital media now has in the advertising market.
Unpacking an exact number for this is difficult, but in its interim results, the company said that, “Faster growth areas of experience, commerce and technology around 39% of revenue less pass-through costs in Global Integrated Agencies ex-GroupM in H1.” Seeking Alpha • Jul 26
WPP: Price Decline Offers Value WPP had a strong first quarter and momentum looked set to continue.
WPP shares, however, have been falling despite improving business performance and long-term growth drivers.
I see the current WPP share price as an attractive entry level and maintain my "buy" rating.
Advertising network WPP plc (WPP) is due to announce its interim results on 5 August. I expect positive news after a strong first quarter. The shares have been falling back lately, but I think the industry giant is attractively priced and continue to attach a “buy” rating.
Business Continues to be Buoyant
In its first quarter results released on 27 April 2022, the company reported like-for-like revenue growth of 8.1%.
company announcement
This continues a return to form over the past couple of years. The business performed positively across all geographies and internal business sectors.
company announcement
The WPP story is no longer as fresh or exciting as it once was, but I think it is easy to forget that when it works, it works very well. The company’s global reach and wide range of capabilities helps it win and keep very large client accounts. In the past couple of years, the company has continued to work to improve its digital proposition, for example recently launching a digital commerce managed service that will offer brands a fully outsourced direct-to-consumer ecommerce solution.
WPP’s move into more and more digital work keeps it relevant for an evolving advertising market, but at the same time its full range of traditional capabilities is what a lot of clients want, and I expect will continue to want. The first quarter saw WPP win $1.8 billion of net new business, including from Mars (where it became the global media partner), JDE Peet's, and Sky. It has also announced several acquisitions in recent weeks.
Risks at WPP
One reason WPP shares have been falling lately is the expectation that an economic slowdown could lead to advertisers cutting budgets, hurting the group. I do see that as a risk. The company did not make much of it in its upbeat outlook contained in the earnings statement, other than to note, “Given the uncertain global environment, we remain ready to respond to any changes in the economy as the year progresses.” It noted that, after client demand was well ahead of expectations in the first quarter, it stayed strong going into the second quarter.
Net debt at the end of the first quarter also looked high to me, at £2.6 billion. The company said that was due to seasonal net working capital movements and share purchases, but if the share repurchase scheme substantially increases net debt then I see it as adding to the company’s balance sheet risks.
Valuation Looks Attractive
Since my March piece, WPP: Return To Growth And An Attractive Valuation, when I upgraded the stock to “buy”, its price has fallen 17%. Shares are down 28% since February.
Google Finance
WPP has now moved back to below where it was heading into the pandemic. But it is in far better shape now than it was then, in my opinion. It is leaner, no longer flailing following the exit of Sir Martin Sorrell as it was then and is reshaping itself to meet market needs better. While the dividend is only a little over half what it was in 2018, it is firmly in growth mode, with a 30% increase last year.