Global chairman and CEO of Ogilvy & Mather will be stepping down from his role in September 2016.
Young has spent 32 years at Ogilvy & Mather, starting in the London office. He was chairman of Ogilvy & Mather Asia Pacific in 1995 and held the role for 13 years.
He assumed the role of global CEO in 2009 and his current role of chairman in July 2012.
Young said, "This was a difficult decision, but the attraction of moving to a senior academic position in the UK was very great. Ogilvy & Mather and WPP have been part of my life for 32 years, and the intention is not to part company, but to be available to advise and consult, which I look forward to doing. My succession will be announced in due course. In the meantime it is business as usual."
Upon retiring his current role, Young will take up the position of warden of his alma mater, New College at Oxford University. He will remain working closely with both Ogilvy and parent company, WPP, on a non-executive basis.