Sir Martin Sorrell could not resist another swipe. Earlier this month, he criticised the “bozos at WPP”, the advertising behemoth he founded, for offloading its holding in a business bought before his acrimonious exit in 2018. The investment in question was a 20% stake in Latin American digital services firm Globant.
After succeeding Sorrell as chief executive, Mark Read quickly set about simplifying the sprawling empire the WPP founder built over decades, which includes agency giants Ogilvy and Wunderman Thompson.
Read believed the FTSE 100 group was unwieldy, laden with debt and struggling to adapt to a digital world controlled by Facebook and Google. He began selling off non-core operations and paying down debt — a good move, given the subsequent impact of the coronavirus
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source https://blog.jsa.digital/index.php/2020/10/24/dont-click-on-a-wpp-recovery-just-yet-business/
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