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WPP finds Sorrell's replacement, names Mark Read as new chief executive

Read takes over the $20.7 bn company at a difficult time however as cautious clients question everything they spend and Facebook, Google and consultants such as Deloitte encroach on its turf

Reuters  |  London 

WPP named insider Mark Read as its new chief executive on Monday tasked with replacing its founder Martin Sorrell and steering the world's biggest advertising company through a period of wide scale industry change. The 51-year-old former board member and digital boss replaces Sorrell who quit in April over a complaint of personal misconduct, which he denied and following a year-long sharp downturn in trading due to fierce competition. Read had stepped up in April to run the company as a joint chief operating officer alongside Andrew Scott. WPP said on Monday that Scott would ...

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First Published: Mon, September 03 2018. 15:00 IST