Advertising
Global Mergers, Local Ripples: Consolidations reshape India's ad land as clients seek 'single-window' partners
WPP likely to communicate new structure to all partners in India; Global CEO Mark Read announces exit
Mark Read, who has spent more than three decades at the British communications giant and served as C.E.O. since 2018, will retire from the role and leave the company’s board on Dec. 31. WPP said a search for his successor is already underway.
WPP is likely to soon communicate a new structural blueprint to its partners in India, as the advertising holding company prepares for a leadership transition globally. Mark Read, who has led WPP since 2018 and spearheaded major consolidations across markets, will step down as CEO by year-end, the company announced today. In India, senior leaders have since reassured key clients that it’s “business as usual", following a spate of consolidations at the advertising holding company.
WPP’s India business remains under the stewardship of CVL Srinivas, who has served as the country manager since 2017. A veteran of the advertising conglomerate, Srinivas first joined WPP in 1994 through JWT India, then known as Hindustan Thompson Associates, before returning to the network in 2013 after a stint in senior industry roles. He also served as chief executive of GroupM South Asia until 2018.
Meanwhile, GroupM veteran Prasanth Kumar oversees the company’s media investment operations under a newly rebranded banner: WPP Media.
Read, who has spent more than three decades at the British communications giant and served as C.E.O. since 2018, will retire from the role and leave the company’s board on Dec. 31. WPP said a search for his successor is already underway.
“It has been an immense privilege to serve as its CEO for the past seven years,” Read said in a statement. “After seven years in the role, and with the foundations in place for WPP’s continued success, I feel it is the right time to hand over the leadership of this amazing company.”
In a LinkedIn post, Mark Read stated, "The current environment may be challenging for every business but I’ve every confidence in our people and our capabilities. The future for WPP is a bright one, and clients understand the long-term value of what we do."
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Under Read’s leadership, WPP sought to streamline its sprawling portfolio, embrace emerging technologies like artificial intelligence, and reposition itself at the forefront of modern marketing services. The company recently rebranded its media investments firm GroupM to WPP Media.
Recently, replacing GroupM, WPP Media became the new name of WPP’s global media arm, aligning with the increasing demand from advertisers for end-to-end capabilities. The new entity will manage more than $60 billion in annual media investments, serving over 75% of the world’s leading advertisers across more than 80 markets.
WPP Media will continue to operate well-known agency brands such as Mindshare, Wavemaker, and EssenceMediacom, each maintaining dedicated client teams while benefiting from shared technology, infrastructure, and expertise. This integrated approach is powered by WPP Open, the company’s proprietary AI-enabled marketing platform that unites creative, production, data, commerce, and personalized media delivery.
Recently, WPP also shifted the creative agency Grey under the leadership of Ogilvy. The change ended Grey’s reporting alignment with AKQA Group, which had been in place since the two agencies were brought together in 2020.
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