As WPP braces for the exit of longtime CEO Mark Read and contends with a share price that has halved since 2018, speculation of a breakup resurfaced in force on the Croisette during Cannes Lions. However, the ad network has quashed the rumors.
Whispers that the world’s former largest holding company by revenue could be broken up and sold for parts have circulated for over a year and gained fresh momentum last week at the industry’s biggest gathering, where senior ad industry executives raised the idea in conversations with ADWEEK.
WPP, however, has dismissed the notion: “In a time when clients are demanding more integrated, tech-enabled solutions, we believe consolidation, not fragmentation, is the best path forward,” a spokesperson told ADWEEK.
UNLOCK FULL ACCESS
Subscribe and get full access to the news, insights, and expertise that keep industry professionals ahead of the curve.
VIEW ALL SUBSCRIPTION OPTIONS
