Speaking at the Advertising Week Europe gathering in London, WPP’s global CEO Read – who took the organisation’s helm in September after the acrimonious departure of founder Sir Martin Sorrell – was unapologetic about the string of recent mergers which characterised his first few months’ in charge of the challenged conglomerate.
These global mergers included bringing together JWT and Wunderman to create Wunderman Thompson; MEC and Maxus to create Wavemaker; and merging Young & Rubicam with VML to create VMLY&R.
He said: “I don’t think it’s a size issue. Accenture’s got 400,000 people. I think it’s a complexity issue rather than a size issue that made it hard for us to respond. We were structured in a very disaggregated way across the company. “I think we should be a company, and not a group, able to work together.”
WPP is also looking to sell a majority stake in its research operation Kantar.
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