Mark Read, CEO of UK advertising holding company WPP, announced his departure from the firm by the end of the year. Read governed WPP through a tumultuous time of rapid AI integration.
The chief executive held his title for seven years, and was at WPP for 30. He assumed the role after Sir Marten Sorell resigned in 2018.
Read will continue working on WPP’s growth strategy for the remainder of the year.
In April, WPP reported a 5 percent drop in revenue to £3.24 billion for the first quarter of 2025. The company’s shares also decreased 1.3 percent following Read’s announcement to leave.
The company has recently dealt with the competition of tech companies like Meta and Google. These companies are advancing AI systems to overtake and expedite common advertising practices.
Just last week, Meta announced it would enable advertisers to fully automate ads and campaigns by the end of next year – which caused WPP shares to dip. Meta CEO Mark Zuckerberg said he sees a restructuring of the advertising industry to occur because of AI.
In March, WPP invested in startup Stability AI. This investment made Stability’s models accessible through WPP’s AI platform, WPP Open.
The new technology allows for quicker and cheaper production of marketing campaigns. The Stability AI models could test campaign ideas and help improve reach across channels and streaming platforms.
At the time of the deal, Read explained that it would enhance WPP’s delivery of content. “The advertising landscape is evolving quickly, and AI is at the heart of that evolution.” he said.
WPP Open has nearly 50,000 users.
Earlier this year, WPP also increased its annual AI investment to nearly £300 million, a move pushed by Read.
WPP is currently looking for Read’s replacement.
“When I took on this role our mission was to build a simple, stronger business, and put structure and new energy behind our creativity and performance, powered by world-leading technology.” Read said.
