Mark Read's departure from WPP after seven years has triggered a search for a new chief executive. The company faces challenges after being overtaken by Publicis Groupe and must navigate a decline amid shifting advertising budgets and technological advancements like AI. Analysts stress the importance of strong leadership skills in crisis management and financial acumen for the new CEO. Internally and externally, several potential candidates are being considered, including Devika Bulchandani of Ogilvy, which has performed well amid corporate restructuring.
In the current agency environment, what is needed is a leader with a strong track record in crisis management, financial expertise, and people leadership.
WPP has already undergone a series of restructures and repositionings that insiders and shareholders are hoping will convert into new business and turn around a period of decline.
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