WPP’s Mark Read to step down as CEO this year

WPP’s chief executive officer Mark Read has announced he will step down at the end of the year, after three decades with the holdco.

Deciding that “now is the right time” for him to hand over the reins, Read will officially finish up from the board and as CEO on December 31. No successor has been named yet, but according to WPP, the search is underway.

Read has served as CEO for the past seven years, having replaced Sir Martin Sorrell after his abrupt resignation. Before taking on the top role, he had a stint as WPP’s COO for six months. He was the CEO of Wunderman, now part of VML, for the three years prior, and spent 12 years at WPP as director of strategy and a board member.

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