afaqs! news bureau

A quick look at the mega mergers that are redefining WPP

Since Mark Read took charge of the media investment firm in 2018 he has been systematically restructuring the network and merging several iconic agency brands.

When Mark Read took charge as CEO in 2018 he presented a strategy for growth that called for a mega restructuring of the world’s largest advertising network.

He said, "We are fundamentally repositioning WPP as a creative transformation company with a simpler offer to meet the present and future needs of clients. The restructuring of our business will enable increased investment in creativity, technology and talent, enhancing our capabilities in the categories with the greatest potential for future growth.”

Back in August 2018, a report by Forrester analysts said that WPP should look to “dissolve its agency brands to meet the CMO’s need for simplicity, accountability, and scale.” Such an exercise would result in restructuring nearly 400 companies into just dozens. The report also suggested that WPP should consolidate its 100 creative agencies within the seven global networks of AKQA, Grey, JWT, Ogilvy, VML, Wunderman, and Y&R.

In one fell swoop WPP erased three agency brands on October 17. JWT, Wunderman, and Y&R will become history as of January 1, 2024. VML is what will carry the legacy of all these agencies ahead while forging a new path for itself.

Here's a quick look at the recent mergers under the leadership of CEO Mark Read:

Mark Read's vision for WPP
Mark Read's vision for WPP
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