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WPP confirms Mark Read as CEO

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WPP has since confirmed the appointment of Mark Read as CEO. Roberto Quarta, chairman of WPP, said the Board carried out a rigorous selection process, assessing internal and external candidates. He said the process, alongside Reed’s wise and effective stewardship of the business in the last few months, left the board "with no doubt" that he is the right leader for this company.“Recognised for his leadership throughout the industry, he has an intimate understanding of the business, he enjoys very strong internal support, and he has earned the respect and endorsement of our clients with his constant focus on their needs. He has played a central role in many of WPP’s most successful investments and initiatives, and he has deep experience at board and operational level. Most recently, Read led the transformation of Wunderman into one of the world’s top digital agencies, and he understands the importance of culture in creating successful organisations. In short, he is in every way a 21st-century CEO," Quarta said.Read said, “WPP is a great company with exceptional people and strong relationships with clients who place a high value on our work. Few organisations have our global reach – 130,000 people delivering results for clients in 112 different countries. Fewer still have our powerful combination of creativity and expertise in technology and data.He added that currently the industry is going through a period of structural change, not structural decline. "If we embrace that change we can look ahead to an exciting and successful future. Our mission now is to release the full potential that exists within the company for the benefit of our clients, to accelerate our transformation and simplify our offering, and to position WPP for stronger growth."“To achieve that we need to foster a culture that attracts the best and brightest: inclusive, respectful, collaborative, diverse. What makes our company special is its people, and I am very proud to have been given the chance to build a new WPP with them.”Meanwhile, Andrew Scott will continue in his role as chief operating officer of WPP on a permanent basis as a key member of the senior management team. The Board would like to thank him for his efforts, alongside Mark and the rest of the executive team, during a period of significant change for WPP.

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