WPP AUNZ boss warns investors of further ad spend declines

May 3, 2019 9:49

Interim CEO of WPP AUNZ John Steedman has warned investors the company’s anaemic performance will continue as weak ad spend continues to hurt the Australian marketing industry.

Steedman’s comments at the holding group’s Annual General Meeting yesterday came after reporting a 12.8% fall in earnings before interest and tax and a 4% sales decline in the second half of 2018.

John Steedman is to continue as WPP AUNZ interim CEO for at least another month, investors were told at the company’s AGM

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Paul Wallbank

Paul Wallbank was news editor at Mumbrella between June 2017 and June 2019. Previously he's covered business and technology issues for outlets ranging from The Australian and Sydney Morning Herald to the ABC and Business Spectator.

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2 COMMENTS

Henry Innis 3 May 19

Wouldn’t the simplest way to simplify the structure be to de-list WPP AUNZ? I’ve never understood why that hasn’t yet happened. It would be a great move to help integrate the local operation globally and likely would take some reporting pressure off as well.

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Punter 3 May 19

He’s got a point you know

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