WPP’s sweeping restructure could save £500 million—the bigger challenge might be winning over workers
When Cindy Rose replaced Mark Read as CEO of WPP in October last year, she inherited a business in decline. The advertising company had recently issued a fresh profit warning after a sharp decline in revenues and the loss of key clients, including Coca-Cola’s North American business and Mars’ snacking and pet care accounts. Two months later, WPP dropped out of the FTSE 100, ending a near 30-year run on the blue-chip index.
- ▪When Cindy Rose replaced Mark Read as CEO of WPP in October last year, she inherited a business in decline.
- ▪The advertising company had recently issued a fresh profit warning after a sharp decline in revenues and the loss of key clients, including Coca-Cola’s North American business and Mars’ snacking and pet care accounts.
- ▪Two months later, WPP dropped out of the FTSE 100, ending a near 30-year run on the blue-chip index.
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When Cindy Rose replaced Mark Read as CEO of WPP in October last year, she inherited a business in decline. The advertising company had recently issued a fresh profit warning after a sharp decline in revenues and the loss of key clients, including Coca-Cola’s North American business and Mars’ snacking and pet care accounts. Two months later, WPP dropped out of the FTSE 100, ending a near 30-year run on the blue-chip index. Rose responded with an 18-month plan to scrap WPP’s holding-company structure and replace it with a single business split into four units: creative, media, production, and enterprise solutions.
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