Adweek and MediaPost published the official resignation statement from WPP CEO Mark Read, with the latter trade journal positioning the move as a retirement decision.
Retirement?! Will Read receive a gold watch along with the golden parachute—in sharp contrast to WPP drones about to receive golden showers?
As previously mentioned, the trade journals are being polite in their coverage, while other sources are pointing to client firings, financial woes, and global mismanagement as key motivators for Read’s alleged retirement plans.
In Read’s defense, he inherited a flaming turd from Sir Martin Sorrell, who never hesitated to shit on his own invention after wiping his ass of the burning bowel movement.
Yet Read succeeded in elevating the odor, expelling iconic White advertising agency brands—including Y&R, Wunderman, and JWT—from the Adlandscape.
Read remarked, “I am excited to explore the next chapter in my life…” Okay, but the tale he authored in the past seven years is an epic failure.
Read’s Resignation-Retirement Rhetoric:
WPP is an incredible company with over 100,000 talented and creative people, wonderful clients and partners, and an unmatched presence around the world. It has been an immense privilege to serve as its CEO for the past seven years.
When I took on this role our mission was to build a simpler, stronger business, and put structure and new energy behind our creativity and performance, powered by world-leading technology. I am proud that our teams across the business have delivered that exceptionally well. Our clients today rate us more highly than ever before, we now work with four of the world’s five most valuable companies, and our revenues with our biggest clients have grown consistently.
Our business starts with creativity, and I was delighted for our teams that last year we were once again named Creative Company of the Year at Cannes Lions.
We have also positioned WPP at the forefront of the industry with our investments in AI and, with the full launch of WPP Open this year, we are now leading the way as AI transforms marketing. We have an exceptional leadership team and a secure financial position that allows us to face the future confidently and capture the opportunities ahead.
After seven years in the role, and with the foundations in place for WPP’s continued success, I feel it is the right time to hand over the leadership of this amazing company.
I am excited to explore the next chapter in my life and can only thank all the brilliant people I have been lucky enough to work with over the last 30 years, and who have made possible the enormous progress we have achieved together.
I would also like to thank Phil and the rest of the Board for their steadfast support for me and the wider executive team, and I look forward to supporting them in the transition to my successor in the coming months.
No comments:
Post a Comment