WPP Stock Recent News

WPP PLC (LSE:WPP) shares bounced 1.7% to 436p on Thursday after the advertising giant appointed a new CEO, a day after issuing a profit warning.  The FTSE 100 group, which had seen its shares plummet 19% the previous day, helped limit further losses by announcing a new chief executive, Cindy Rose, who brings decades of experience from Microsoft, Disney and Vodafone.

Britain's WPP named board member Cindy Rose as its new chief executive on Thursday, tasking the senior Microsoft executive with leading its recovery a day after a major profit warning showed the scale of the challenge at the ad group.

U.S.-listed shares of WPP (WPP) made a slight comeback from yesterday's big selloff when the advertising giant chose Microsoft (MSFT) executive Cindy Rose to be its new CEO, as the firm moves to deal with the rising use of artificial intelligence in the industry.

Britain's WPP named board member Cindy Rose as the advertising group's new chief executive on Thursday, tasking the senior Microsoft executive with leading its recovery after she succeeds Mark Read on September 1.

WPP PLC (LSE:WPP) has decided to make non-executive director Cindy Rose, also a current Microsoft divisional leader and former Vodafone and Disney exec, its new chief executive. She will take over on 1 September, based in both London and New York, when current boss Mark Read steps down from the FTSE 100-listed advertising and marketing group, which yesterday saw its shares fell almost 19% after a profit warning.

British ad group WPP named board member Cindy Rose as its new chief executive on Thursday, handing the top job to a senior executive from Microsoft a day after it downgraded profit forecasts.

Shares in London-based advertising giant WPP plunged 18% on Wednesday, stoking broader anxiety about the state of the ad business. The stock settled at $29.34, its lowest point since the onset of Covid in 2020, after lackluster quarterly earnings results and the company's unexpected lowering of profit forecasts.

‘AI will profoundly and irrevocably transform the industry,' Barclays analyst Julien Roch wrote.

WPP says an uncertain macro environment has weighed on ad investment more than anticipated.

Ad giant WPP issued a profit warning, sending its shares crashing as much as 18%. Other ad company stocks fell, too.