however Sorrell wasn’t the best at everything, argued Ian Whittaker, a media analyst at investment bank Liberum. “One of the thing in which gets missed with WPP, while all the focus has been on Martin Sorrell in addition to also what he’s brought to the business … can be he doesn’t actually have a lot of depth when the idea comes to the operational management,” Whittaker said.
He pointed to two names being considered for the next potential CEOs, newly-appointed joint chief operating officers Mark Read in addition to also Andrew Scott, who he described as company in addition to also industry veterans. WPP chairman Roberto Quarta will meanwhile serve as executive chairman until a brand new CEO can be found.
“What you could get having a brand new CEO can be, given where the WPP share cost performance has been — the idea has significantly underperformed peers over the last 12 months by quite a considerable amount — so I’d expect in which a brand new CEO would likely look to close in which gap,” he said, adding in which one way to do in which would likely be to sell certain company assets like WPP’s market research arm, which Sorrell always staunchly defended however whose numbers didn’t indicate concrete benefit.
Still, the development does leave the company’s future on shaky ground. “(Sorrell’s) got to be recognized,” Whittaker said. “You look at how he’s built in which group over the past 30 years, despite last year’s share cost in addition to also recent news he’s done a fantastic job, he’s literally Mr. WPP,”
Whether WPP does well or not in in which next phase depends on how smooth the transfer of power can be, Nusseibeh reiterated. “in addition to also the issue they have, as with all service industries, can be in which all service industries depend on the leadership of the CEO, in addition to also the idea’s not an easy thing to take in which out of the equation.”