Ad giant WPP names Mark Read as new CEO


After days of media speculation, ad giant WPP has today named Mark Read as its new chief executive after its founder Martin Sorrell quit in April.

51-year-old Reed said the group could “absolutely” return to its previous levels of steady growth: “WPP is a great company with exceptional people and strong relationships with clients who place a high value on our work.”

Read will be paid an annual salary of £975,000, plus the opportunity for bonuses, according to a Bloomberg report. Read’s contract also includes clauses that restrict him from going to work for a rival firm, or competing against WPP should he leave.