Sorrell's Heir Apparent Flags Need For Radical Change At WPP
WPP needs radical change to stay ahead of the digital revolution reshaping the industry and its clients, the man now steering the world's largest advertising group has said.
The once-glamorous world of Madison Avenue has been forced to confront reality in recent years as the rapid growth of digital platforms has opened the industry to new competition at a time when clients are questioning everything they spend.
As the biggest holding company in the sector, WPP has been particularly hard hit, losing major contracts - almost 30% of its market value - and in April, its founder and chief executive Martin Sorrell over a personal misconduct allegation.
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