WPP has had a very rough few years, the board of directors fired its Founder, Martin Sorrell earlier this year, the stock plummeting to an all time low. They were also forced to consolidate a number of the agencies in the holding companies such as Burson-Marsteller and Cohn & Wolfe , and there was also WAVEMAKER which saw
Maxus, MEC, and GroupM consolidating.
After months of rumours and speculation WPP announced over the weekend the appointment of Mark Read as its new CEO. As the new guy coming in Mark’s first job will be to clean up and consolidate. The remaining WPP brands will undergo more change in the coming months and for Canada this will more some job loss. Mark brings a strong digital background in the past he’s held roles such as CEO of WPP Digital and Head of Strategy at the holding company, and CEO of Wunderman. This background will be a big asset as Mark will look to bring a better digital offering to the WPP family.
Media budgets continue to adjust or become smaller as marketers look for more from their agency partners and in some cases bring their advertising, marketing or public relations needs in-house. We can expect to see several changes with Mediacom over the next year and Kevin Johnson and his team raise the bar on the creativity thy deliver to clients. We can also expect to see some changes with their working relationship with Google Canada (Sabrina Geremia); Facebook Canada (Garrick Tiplay).
These three have often been “frenemies” competing in some areas, but being allies in other areas, and as Mark enters the second phase which will call “creation” it will certainly put a strain on the duolopy’s relationship with WPP.