WPP CEO News and Guidance Reduction + Independent Agency Growth Trends
Madison and Wall: Saturday Summary for July 12, 2025
On this week’s M&W Podcast we review our work of the week. Agency Business will be back next week, but you can see our library of interviews with agency industry leaders here.
Weekly Work:
Large Independent Agencies Grew 2% in 2Q25
WPP Guidance Reduction Read-Throughs
More Context:
WPP’s appointment of Board member Cindy Rose as its new CEO starting in September was easily the most significant news of the week, and was widely reported on. While we can’t claim to have read all of the press or analysis of the appointment, in what we did see there was a key missing element related to the Board of WPP itself.
Ultimately, responsibility for the company’s current situation rests with the Board rather than management, given how long concerns about strategy and performance have persisted. Consequently, we think one of the biggest questions to be explored relates to the Board’s collective view of what the company should do at this point in time. Whatever those preferences are would have informed the path the Board took in selecting one of their own rather than a true outsider who may be less likely to follow the path the Board wants the CEO to go down.
To the extent that heightened risk aversion or other constraints originating from the Board were factors causing WPP’s current circumstances, a return to growth and long-term durability may depend upon the new CEO charting an independent a path with aggressive long-term investment choices based on a deeply-held view about the future of marketing services. If a compelling vision can be articulated with conviction supported by credible action, we think investors would be very supportive. Hopefully the Board would be, too.