After Issuing Another Profit Warning, WPP CEO Says She Has a Turnaround Plan

  Rassegna Stampa, Social
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Rose has hit the ground running in her first two months in the role. She’s overseen a leadership reshuffle and inked a deal with Google that includes a $400 million pledge from WPP to integrate the tech giant’s advanced AI tools into WPP Open, its AI marketing platform. Last week, WPP launched a self-serve version of WPP Open to court dollars from small businesses and performance marketers. 

The company expects WPP Open Pro, and WPP Open more broadly, to drive much-needed revenue. Rose views the platform’s underlying common data model as a key differentiator among agency AI solutions, noting that it helps clients “optimize their entire marketing investment across the entire marketing function.”

Of these recent developments, Rose said: “These are all bold and decisive moves that hopefully give you a sense of our direction of travel, and you can certainly expect more of the same from us in the months ahead.”

“We need to go farther and we need to go faster,” she added.

As WPP pours resources into its AI programs, another priority will be to revitalize WPP Media, rebranded earlier this year from GroupM. In Rose’s view: “GroupM lost its way, but I’m very confident in [CEO] Brian [Lesser]’s vision of an open and privacy-compliant data- and AI-powered ecosystem.”

The media buyer saw signs of growth in Q3, snagging new business from Mastercard, logistics titan Maersk, and retailer Marks & Spencer.

WPP said it will share a more comprehensive strategy plan publicly in the coming year. 

Despite its financial woes, Rose signaled confidence in the firm’s direction.

“We’ve got strong foundations, and we’ve got the ingredients we need to succeed, including amazing clients, strong capabilities, world-class talent, and some of the most consequential agency brands in the world,” she said. “We have unrivaled global scale and reach, market-leading technology and technology partnerships that really give us a competitive edge, and all of that makes this a very exciting platform for us to build on.”

https://www.adweek.com/agencies/after-issuing-another-profit-warning-wpp-ceo-says-she-has-a-turnaround-plan/

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