Navigating Transition: The Search for WPP's Next Leader

Navigating Transition: The Search for WPP's Next Leader

As Mark Read approaches his departure from WPP, the industry's attention has shifted to who will assume one of the most demanding positions in advertising. The influx of pressure began after Philip Jansen, a prominent figure from the City and former BT CEO, took over as WPP chairman earlier this year. Jansen's mandate was clear: revitalize the company's share price. In light of the mounting pressure, speculation regarding a potential shake-up at the executive level quickly emerged, particularly if Read failed to meet expectations.

Despite outlining a strategy centered on artificial intelligence and prioritizing GroupM's role within WPP, the firm has faced significant client losses, notably Coca-Cola’s US media account, Paramount's global business, and rumored attrition of the lucrative $2 billion Mars account.

Industry analyst Ian Whittaker commented on Read’s tenure, suggesting that his legacy may be viewed more favorably as time passes. Following in the footsteps of Sir Martin Sorrell, WPP's founder, undoubtedly posed challenges due to both the nuances of their personalities and the daunting task of managing a company built on Sorrell's vision. Whittaker pointed out that while Read made notable progress, particularly in laying groundwork that his successor will benefit from, he acknowledges that improvements are still needed, as reflected in the company's stock performance.

The impending question looms: Who will be the next captain of this ship?

Potential Candidates for the CEO Position

Among the frontrunners, Brian Lesser has garnered considerable attention. Having started as the founding CEO of Xaxis and later returned to lead GroupM, he is credited with overhauling the business to create WPP Media. Despite this, some insiders have expressed doubts about Lesser's viability as a candidate due to a challenging restructuring approach that has dampened internal morale.

Another possible contender is Emily Del Greco, currently serving as the global chief operating officer at WPP Media. Her impressive operational background and ability to drive growth have made a notable impression since her arrival in February, leading some to view her as a strong candidate for the top role.

Stephan Pretorius, who was appointed as the first chief technology officer for WPP in late 2018, also emerges as a surprising option. With a focus on AI and substantial tech partnerships formed during his tenure, he has established himself as a pivotal player within the organization; however, doubts about his ability to lead a diversified FTSE 100 company remain.

From Ogilvy, Devika Bulchandani, the global CEO, is another contender celebrated for her strategic turnaround efforts, including securing Verizon’s significant global creative account. Additionally, UK group CEO James Murphy, who has quickly helped Ogilvy exceed its competitive peers, has also been mentioned as a possible successor.

Moreover, Jon Cook, the chief executive of VML, has maintained his relevance during the complex integrations of several agency brands, landing major clients along the way. Nevertheless, some industry observers question if he possesses the innovative edge required for this critical leadership position.

• Johnny Hornby: T&Pm founder and WPP executive committee member, he is prepared to head the Specialist Communications agency division.
• Laurent Ezekiel: Previously with Publicis, serving as WPP's chief marketing and growth officer, he manages the dedicated agency for Coca-Cola.

The Case for an External Candidate

Given the myriad challenges WPP faces, insiders have begun to contemplate whether appointing an external candidate would be more advantageous for the company. Some have posited that a financially savvy leader could be preferred, especially given the urgent need to address the struggling share price.

One name recently brought into the conversation is David Droga, the esteemed founder of Droga5, who recently vacated his role at Accenture Song. Analysts speculate about the potential for Droga to take the helm at WPP in 2026, contingent on whether he sees the role as a beneficial challenge amidst the upheaval in the company.

Additionally, Matt Brittin, a former Google executive with extensive digital experience, may offer the technological expertise needed for WPP’s trajectory towards becoming a technology-driven media powerhouse.

Leadership Qualities Required in a New CEO

Industry analysts highlight the importance of a new leader who possesses not only technical knowledge but also robust crisis management abilities and strong financial acumen. As morale within the workforce declines, and operational models evolve in reaction to economic pressures, the person stepping into this role must navigate significant uncertainties and lead with vision and decisiveness.

Ultimately, whether WPP opts for an internal candidate, familiar with the company culture, or seeks innovative thinking from an external leader, the new CEO will inherit a crucial position at a transformative time for the agency world. Mark Read’s successor must be adept at addressing rapid changes in the media landscape while also fostering a culture of agility and adaptability among the workforce.

As this leadership transition unfolds, industry stakeholders remain eager to see how WPP will evolve and respond to the growing complexities of the advertising sector.