WPP Names New CEO as Ad Giant Looks to AI Growth
U.S.-listed shares of WPP (WPP) made a slight comeback from yesterday's big selloff when the advertising giant chose Microsoft (MSFT) executive Cindy Rose to be its new CEO, as the firm moves to deal with the rising use of artificial intelligence in the industry.
Who is WPP's new CEO Cindy Rose?
Britain's WPP named board member Cindy Rose as the advertising group's new chief executive on Thursday, tasking the senior Microsoft executive with leading its recovery after she succeeds Mark Read on September 1.
WPP appoints ex Microsoft, Vodafone divisional chief as new CEO
WPP PLC (LSE:WPP) has decided to make non-executive director Cindy Rose, also a current Microsoft divisional leader and former Vodafone and Disney exec, its new chief executive. She will take over on 1 September, based in both London and New York, when current boss Mark Read steps down from the FTSE 100-listed advertising and marketing group, which yesterday saw its shares fell almost 19% after a profit warning.
WPP names Microsoft exec Cindy Rose as new CEO
British ad group WPP named board member Cindy Rose as its new chief executive on Thursday, handing the top job to a senior executive from Microsoft a day after it downgraded profit forecasts.
WPP Shares Plummet as Artificial Intelligence Undercuts Advertising
‘AI will profoundly and irrevocably transform the industry,' Barclays analyst Julien Roch wrote.
WPP's dire profit warning is the last thing the ad business needs as it grapples with the impact of AI
Ad giant WPP issued a profit warning, sending its shares crashing as much as 18%. Other ad company stocks fell, too.
Ad giant WPP issues second profit warning this year. The stock is plunging.
WPP shares sank Wednesday on the advertising giant's second profit warning of the year, as it said clients were spending less and it was attracting fewer new clients than hoped.
WPP shares slump 14% after ad giant sounds the earnings alarm
WPP PLC (LSE:WPP) shares dropped 14% in early trading following an updated outlook that lowered revenue and profit expectations for 2025. The advertising and marketing giant sounded the alarm as it pointed to a tougher economic environment and weaker new business as reasons for the revision.
WPP downgraded as AI will 'profoundly and irrevocably" transform ad industry
WPP PLC (LSE:WPP) was the biggest faller on the FTSE 100 on Wednesday after Barclays downgraded it and other advertising agency rivals due to its prediction that artificial intelligence will "profoundly and irrevocably" disrupt the industry. After attending dozens of meetings at the Cannes Lions ad festival last week, the bank acknowledged that while its media team had been an "agency bull" over almost three decades, "we came away from all these meetings more bearish than before".
WPP under the microscope as AI reshapes ad land
UBS's post-Cannes Lions debrief leaves little doubt that WPP PLC (LSE:WPP) needs to up the pace if it is to reclaim growth, while its peers race ahead on artificial intelligence and client wins. Last week's festival in the South of France drew the bank's analysts into thirty meetings with the chiefs of every major holding company, challenger agency and ad-tech player.
Ad Forecaster Cuts Industry Outlook as Trade Upheaval Risks Five-Year ‘Chilling Effect'
WPP Media now sees global ad industry growth of 6% for this year, down from its prior forecast of 7.7%, excluding U.S. political spending.
WPP chief exec Mark Read retires
WPP PLC (LSE:WPP) has begun the search for a new chief executive, as Mark Read has revealed his plans to retire at the end of the year. Read, who took the top job in 2018 after the inglorious departure of founder Sir Martin Sorrell, has been at the company for over thrree decades.
