CEO to leave global advertising group after three decades as shares lag at lowest level in about five years
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The boss of WPP, Mark Read, has announced he will step down, as the advertising agency, which was once the largest in the world, struggles against the rise of AI and its shares lag at their lowest level in about five years.
Read will leave WPP after more than 30 years, with just under seven spent in the top job. He will stay on as chief executive until the end of the year while the board starts to look for his successor.
WPP’s share price has shed about half its value under his leadership, as the company has struggled against the rise of AI tech that helps companies to automate the creation of adverts.
