10th Jul 2025 08:49
(Alliance News) - WPP PLC on Thursday announced Microsoft Corp executive Cindy Rose as its new chief executive a day after shares fell heavily in the wake of a profit warning.
The London-based advertising agency said Rose will join WPP on September 1. Rose succeeds Mark Read who will step down as CEO at that time but support the transition until the end of the year.
WPP said Rose has "extensive experience" in the technology, telecommunications, media, entertainment and creative industries.
She has spent the last nine years in senior leadership positions at Microsoft where she is currently chief operating officer, Global Enterprise. In this role, Rose helps companies use digital technology and AI to drive business transformation.
Rose has been a non-executive director at WPP since 2019.
WPP Chair Philip Jansen said: "Cindy has supported the digital transformation of large enterprises around the world - including embracing AI to create new customer experiences, business models and revenue streams. Her expertise in this landscape will be hugely valuable to WPP as the industry navigates fundamental changes and macroeconomic uncertainty.
"As an existing board member she understands our business and the needs of our clients, and we look forward to working with her in her new role as CEO."
Jansen said WPP has considered both internal and external candidates as part of the selection process.
For her part, Rose said: "WPP is a company I know and love - not only from my six years on the board but as a client and partner for many years before that - and I couldn't be happier or more excited to be appointed as CEO.
"There are so many opportunities ahead for WPP. We have and continue to build market-leading AI capabilities, alongside an unrivalled reputation for creative excellence and a pre-eminent client list."
On Wednesday, shares in WPP slumped 19% after it lowered full-year guidance after weaker-than-expected trading in the first half, against a "challenging" market backdrop.
On Thursday, shares in WPP rose 2.1% to 437.75 pence each in London. They have fallen 40% in the last 12 months, however.
On Wednesday, WPP said it now expects a 2025 like-for-like revenue decline of between 3% and 5%, excluding pass through costs. It predicts a decline in headline operating profit margin of 50 to 175 basis points, excluding foreign exchange.
Back in April, WPP estimated that like-for-like revenue in 2025 would range from flat to a 2% fall on 2024. It expected an "around flat" margin outcome.
WPP now forecasts like-for-like revenue less pass-through costs to decline in the range of 5.5% to 6.0% in the second-quarter, and by 4.2% to 4.5% in the first half.
Headline operating profit in the first half is expected between GBP400 million and GBP425 million, a decline from GBP646 million a year before.
By Jeremy Cutler, Alliance News reporter
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