Sir Martin Sorrell, WPP‘s former CEO, has stepped down after 33 years with the company.
WPP chairman Roberto Quarta will act as executive chairman until the appointment of a new CEO. Mark Read, CEO of Wunderman and WPP Digital, and Andrew Scott, WPP’s corporate development director and chief operating officer, Europe, have been appointed as joint chief operating officers.
Sorrell said: “Obviously I am sad to leave WPP after 33 years. It has been a passion, focus and source of energy for so long. However, I believe it is in the best interests of the business if I step down now.”
Quarta added: “Sir Martin has been the driving force behind the expansion of WPP to create the global leader in marketing services.
“During this time, the company has been successful because it has valued and nurtured outstanding talent at every level – within and well beyond our leadership teams.
“On behalf of the board I would like to recognise these achievements and thank Sir Martin for his commitment to the business over more than three decades.”