WPP CEO Mark Read Tells Staff Omnicom-IPG Deal Is ‘Good News For Us’

  Rassegna Stampa, Social
image_pdfimage_print

Social Media Week is headed to NYC this May 12–14! Register before December 16 to save 50% on your pass.

WPP boss Mark Read has described Omnicom Group’s acquisition of Interpublic Group (IPG) as a “moment of opportunity” for the U.K.-based ad network, urging employees to keep delivering for clients “without distractions.”

“Clients will not have missed the fact that, in the last week or two, several of our competitors have spent a lot of time talking about themselves. This is a moment of opportunity for WPP to stand out through an unwavering focus on our clients and their interests, not our own,” Read told staff in a memo seen by ADWEEK.

Last week, WPP, along with the remaining four of the ‘big six’ ad agency networks, was dealt a blow when the mega-merger was confirmed.

Omnicom’s newly combined company boasts revenues of $25.6 billion based on 2023 figures, giving it the ability to topple WPP, which has long held the title of the world’s largest holding company by revenues.

WPP pulled in $18.5 billion in 2023. For 2024, it is about to be unseated by Publicis Groupe, with financial research platform Visible Alpha forecasting Publicis to report revenues of $14.5 billion by the end of 2024, versus WPP’s $14.17 billion.

Last week, Publicis Groupe CEO Arthur Sadoun warned staff the network’s stint at the top of the table might be short-lived following the Omnicom-IPG acquisition. However, he was optimistic about the deal’s wider impact on the industry amid a move to “three main global players.”

Addressing WPP’s 114,000 employees across 100 countries, Read struck a similar optimistic tone. He was bullish in his outlook that the deal was “good news” for the Ogilvy and VML owner.

“Over the next two years, as [Omnicom and IPG] focus on finding annual savings of $750 million and doing the hard work we have already done within our company – simplification, integration, consolidation – we will be doubling down on our strategy: doing outstanding work for our clients, championing creativity, investing in the future through AI, data and technology, and building great careers for our people,” he said.

He added that while peers were “distracted and turning inward,” WPP’s teams were “getting on with the job of delivering exceptional results and value” for clients. “And that’s how we will win in 2025,” he continued.

ADWEEK reached out to Omnicom for a statement following Read’s memo. It did not immediately respond.

Ink is expected to dry on the deal within 12 months, pending regulatory approval.

You can read the full memo Read shared with staff on Friday (Dec. 13) below.

To everyone at WPP

Pagine: 1 2 3 4