By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > WPP lines up former BT boss Philip Jansen as its new chair
News

WPP lines up former BT boss Philip Jansen as its new chair

News Room
Last updated: 2024/07/29 at 7:34 PM
By News Room
Share
4 Min Read
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

WPP is set to pick former BT chief Philip Jansen as its new chair, ending a lengthy search for a boardroom heavyweight to help the UK-based advertising group through a period of sweeping technological change. 

People familiar with the matter said Jansen has been lined up to succeed Roberto Quarta, who was appointed chair in 2015 and handled the acrimonious departure of the then-WPP chief executive Sir Martin Sorrell in 2018. 

The move to bring in Jansen, who has also led global businesses such as payment processing company Worldpay, could be announced as early as Tuesday, one person close to the situation said.

WPP and Jansen declined to comment on Monday.

WPP board member and former Burberry boss Angela Ahrendt has led the process to appoint Quarta’s successor. 

Jansen, who has also worked at consumer products company Procter & Gamble, brings experience across marketing and technology as well as a record of corporate transformation. 

He led the flotation of Worldpay as chief executive and remained as co-head of the wider group after it was acquired by Vantiv in 2017.

Philip Jansen oversaw a £3bn cost-cutting programme at BT © Bloomberg

At BT, Jansen oversaw a £3bn cost-cutting programme while also supervising investment in the telecoms company’s network. Allison Kirkby succeeded him as BT chief executive this year.

Jansen is now poised to help WPP as the global advertising industry faces an existential threat from artificial intelligence tools that can replace many of the traditional functions of a marketing agency. 

WPP chief executive Mark Read has been bullish about the opportunity of using AI to improve and enhance the company’s services rather than seeing them at risk of being made obsolete by the technology.

But analysts are watching closely as to which of the four large global advertising groups can best use AI to gain competitive advantage.

WPP has also encountered questions about its lacklustre share price at a time when rivals such as Publicis are trading at higher multiples to earnings.

Some analysts have asked if WPP is trading at too large a discount to the sum of its many businesses, which range from advertising agencies GroupM and Ogilvy to public relations group Burson.

WPP’s shares have been broadly flat this year, giving it a market capitalisation of about £8bn.

The group has recently reorganised its divisions and brought some of its agency brands under a single masthead in order to simplify operations and cut costs.

The Financial Times reported in June that private equity group KKR had approached WPP about taking control of financial communications business FGS Global. WPP, which owns a 55 per cent stake in FGS, rejected the approach.

In his valedictory letter as WPP chair in the company’s 2023 annual report, Quarta gave a vote of confidence in current management, saying that in 2018 “WPP was contending with a series of major strategic challenges”.

He added “the executive team brought stability and new direction to WPP, transformed the company’s culture and revitalised its offer”.

Even so, Quarta acknowledged 2023 had been “more challenging, largely due to the impact of reduced spending in the US from technology clients, to which WPP has greater exposure than its peers”.

Advertising executives said those clients were now spending again, meaning there will be pressure on WPP to show signs of improvement at its next results in August. 

Read the full article here

News Room July 29, 2024 July 29, 2024
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
US measles cases surge to highest level since 1992

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Linda Yaccarino steps down as chief executive of X

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

EU warns airline delays could be at worst ever this summer

Stay informed with free updatesSimply sign up to the Airlines myFT Digest…

Nvidia becomes first company to reach $4tn in market value

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Live news: Copper market reels as Trump threatens 50% tariff

Donald Trump’s vow to impose 50 per cent tariffs on copper imports…

- Advertisement -
Ad imageAd image

You Might Also Like

News

US measles cases surge to highest level since 1992

By News Room
News

Linda Yaccarino steps down as chief executive of X

By News Room
News

EU warns airline delays could be at worst ever this summer

By News Room
News

Nvidia becomes first company to reach $4tn in market value

By News Room
News

Live news: Copper market reels as Trump threatens 50% tariff

By News Room
News

Britain, France and the necessary relationship

By News Room
News

French police raid offices of Marine Le Pen’s far-right Rassemblement National

By News Room
News

Red Bull Racing sacks F1 boss Christian Horner

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?