“We are ultimately a people business,” says Mark Read as AI reshapes WPP workforce
Outgoing WPP CEO, Mark Read’s words echo irony as his tenure saw sweeping restructurings, job cuts and heavy AI investment.
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Mark Read, the chief executive of WPP, will step down at the end of the year, concluding a three-decade tenure at one the world's largest advertising holding companies. The move comes as the British firm contends with a sagging share price and mounting pressures from the rapid adoption of artificial intelligence across the marketing industry.
WPP confirmed Read’s planned departure on Monday, signaling a leadership transition during one of the most volatile moments in recent memory for global advertising. Shares in the company, which have lost nearly 50 percent of their value during Read’s tenure, dipped another 1.3 percent in early London trading, as per reports.
Read, 58, will remain in his post through December while the board, led by newly appointed chair Philip Jansen, searches for a successor. Jansen, the former BT Group chief executive, praised Read’s role in modernizing WPP, calling him “central to transforming the company into a world leader in modern marketing services.”
In a note to employees, Read acknowledged the timing was not perfect, but added that it feels like the "right time" for him. During his six-year tenure as CEO, Read sought to overhaul WPP’s sprawling structure through a series of integrations and consolidations.
Just this year, WPP folded its media investment arm GroupM under a new identity - WPP Media, in an effort to create a more unified, tech-first media offering. In an internal memo, WPP Media CEO Brian Lesser reportedly laid out a centralization strategy aimed at making the organization “a stronger, more connected company.”
He acknowledged that the transformation would require “difficult decisions,” including restructuring teams and cutting overlapping roles - changes that are expected to affect staff across multiple markets. Reports of layoffs and workforce reductions have been surfacing in recent weeks.
WPP also announced that Grey, the nearly century-old creative agency, would be integrated under Ogilvy’s leadership, a move aimed at reducing duplication and fostering cross-agency collaboration.
Despite these reforms, WPP has struggled to keep pace with global competitors. It lost its crown as the world’s largest ad holding company by revenue to France’s Publicis Groupe last year, while US rivals Omnicom and Interpublic Group are pursuing a merger that would create a dominant American player in the global order.
Indeed 2025 has been a turbulent year for WPP, with its stock hitting a four-year low, the loss of major accounts like Coca-Cola’s North America media business and Paramount’s media mandate, and a bungled rollout of its four-day in-office return policy. WPP’s new business pipeline has shown signs of recovery, with notable wins and key account retentions including Amazon, Johnson & Johnson, Kimberly-Clark and Unilever.
WPP has also faced significant headwinds in its key international markets. In India, one of its most strategically important and fastest-growing regions, WPP remains the largest advertising holding company, with dominant positions across media and creative services. However, the company has not been immune to recent scrutiny.
In May, the Competition Commission of India conducted raids on several media buying agencies, including units affiliated with WPP, as part of an ongoing investigation into alleged anti-competitive practices in media trading. While WPP has not commented on the matter, industry observers say the probe could result in tighter oversight of agency operations in one of the world’s most dynamic ad markets.
Globally, WPP is grappling with broader industry shifts. Traditional media formats, particularly print and television, continue to decline in importance, replaced by digital channels dominated by platforms like Meta and Google. Read has championed the use of artificial intelligence to help WPP adapt, with the company’s proprietary platform, WPP Open, now used by more than 50,000 employees for creative development and media planning. He has doubled down on AI-driven transformation - investing £300 million into WPP Open, and acquiring data clean room firm InfoSum.
Read has said previously, the company had emerged from a difficult restructuring phase and was poised to rebuild its business with AI at its core. That strategy was underlined by WPP’s $767 million sale of its controlling stake in the public relations firm FGS Global to private equity firm KKR last year, a move intended to streamline the company’s portfolio and raise capital for technology investments.
In March, reports suggested that Bain Capital and WPP PLC are likely to break up and sell market research company Kantar Group. They stated that both firms were looking to cash in on their investment to have the sale generate more reliable returns. Bain Capital acquired a 60% stake in Kantar in 2019, valuing the company at around $4 billion, while WPP retained a minority share.
“We needed to make many difficult decisions that were necessary to serve our clients better, simplify the company, build our culture and put WPP on a more solid financial footing,” Read wrote in his farewell note to staff. He also cited a tumultuous external environment - from the Covid-19 pandemic to the war in Ukraine - as defining challenges during his leadership.
Still, Read remained upbeat about WPP’s outlook, stating that he strongly believes that the future for WPP is a very positive one. He said, "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."
While he's poured millions into a leaner, AI-equipped WPP, Read acknowledged a fundamental truth of the advertising business. "It’s our people who make things happen, support one another, come up with ideas, inspire our clients, figure out an ever more complicated media world and produce work of such great craft and impact," he said. "Despite all our investments in technology, we are ultimately a people business."
