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☆ Elon Musk sure wants people to know he was the one to name OpenAI
▼ + stars: | 2024-06-19 | by ( Kiera Fields | ) www.businessinsider.com time to read: +1 min

Billionaire Elon Musk spoke to WPP CEO Mark Read in an interview at Cannes Lions on Wednesday. On the topic of the future of AI, Musk reminded the audience he cofounded OpenAI as a nonprofit. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk reminded the audience at Cannes Lions on Wednesday that he was the person to name OpenAI as he made a jab at the direction the company has taken since then. Musk took to the festival stage as a guest speaker in an interview with WPP CEO Mark Read, where he discussed technical innovation.

Persons: Elon Musk, Mark Read, OpenAI, —, Musk, Read Organizations: WPP, Cannes Lions, Service, Business

☆ Elon Musk softens 'go f--- yourself' comment as he tries to woo advertisers back to the platform
▼ + stars: | 2024-06-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

At the Cannes Lions advertising festival in Cannes, France, Musk was asked by WPP CEO Mark Read why he told advertisers threatening to pull ads from the platform late last year to "go f--- yourself." Musk said it was meant as a general point on free speech rather than a comment to the wider advertising industry. "In some cases, there were advertisers who were insisting on censorship," Musk said. "We're going to support free speech rather than agree to be censored for money which I think is the right moral decision," he added. He was joined by Linda Yaccarino, X's CEO and former chairman of global advertising and partnerships for NBC Universal.

Persons: Musk, Elon Musk, Mark Read, Linda Yaccarino Organizations: Cannes Lions, WPP, Cannes, NBC Universal Locations: Cannes, France

☆ Elon Musk is going to try courting advertisers. Again.
▼ + stars: | 2024-06-11 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Elon Musk, who has a ... complicated relationship with advertisers, is going to appear at a big ad conference. It's pretty standard for tech companies to court advertisers at the Cannes Lions event in France. AdvertisementLast fall Elon Musk told advertisers to go fuck themselves. Maybe he has a different message now: The man who bought Twitter, turned it into "X," and saw his advertising revenue plummet, is heading to the Cannes Lions ad summit in France next week. WPP, one of the world's biggest ad companies, said Musk will appear at an event with WPP CEO Mark Read on June 18.

Persons: Elon Musk, —, Mark Read Organizations: Cannes Lions, Service, Twitter, WPP Locations: France

☆ More than 100 business leaders including Wikipedia's Jimmy Wales sign open letter backing Britain's center-left opposition
▼ + stars: | 2024-05-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Labour's Shadow Chancellor of the Exchequer Rachel Reeves gives a speech on the British economy ahead of the Bank of England monetary policy release on May 07, 2024 in London, England. LONDON — More than 100 business leaders on Tuesday voiced their support for the U.K.'s center-left opposition Labour Party, nearly five weeks before the country heads to the polls. The group, which includes Wikipedia founder Jimmy Wales and former vice-chairman of JP Morgan Cazenove Charles Harman, said in an open letter to The Times newspaper: "We, as leaders and investors in British business, believe it is time for a change." The writers of the letter claim that the U.K. economy has suffered from a decade of stagnation amid a lack of both political stability and a long-term, consistent economic strategy. The Labour Party has "shown it has changed and wants to work with business to achieve the UK's full economic potential," they said.

Persons: Rachel Reeves, Jimmy Wales, JP Morgan, Charles Harman, Karen Blackett, Andrew Higginson Organizations: Bank of, Labour Party, The Times, WPP, JD Sports, British Retail, Tesco Bank, Heathrow Airport Locations: Bank of England, London, England

☆ Advertisers boost spending at retailers such as Walmart and Amazon as TV shrinks
▼ + stars: | 2024-05-24 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Global retail media ad spending is expected to more than double from $114.18 billion in 2023 to $233.89 billion in 2027, according to eMarketer. Retail media is expected to represent a larger percentage of digital advertising spending, which has begun to eclipse traditional media spending, growing from 18.9% of that segment in 2023 to 25.7% in 2027, according to eMarketer. "What we hear from brands most directly is they no longer wake up with a recipe to buy X amount of TV, X amount of social, X amount of digital. GSTV screens reach 115 million viewers per month across 49 states. "It's the new TV for mass reach advertising," said Mark Boidman, head of media and entertainment investment banking at Solomon Partners.

Persons: Sean McCaffrey, McCaffrey, Mark Boidman Organizations: Television, Facebook, Walmart, Kroger, WPP, Global, Brands, Solomon Partners Locations: eMarketer, It's

☆ AI-generated influencer ads are having a moment. But they won't replace humans, industry insiders say.
▼ + stars: | 2024-05-17 | by ( Marta Biino | ) www.businessinsider.com time to read: +7 min

Read previewThe first time he saw a short-form video ad made entirely using AI, Will Sartorius thought it was "mind-boggling." Sartorius is the CEO of the agency SelfMade, which works primarily with direct-to-consumer brands on social advertising. In March, Sartorius came across a viral ad in the style of user-generated content that was made using the AI tool Arcads. AdvertisementPatricia Redulla is a user-generated content creator. This includes sentences that warn against using generative AI for anything from idea generation to scripts to editing.

Persons: —, Will Sartorius, Sartorius, Ariel Marie, It’s, …, — Beck, ike H, ince, ptions, riel, arie, ould, ake, l, ike, ork, eason, anders, arn Organizations: Service, Business Locations: uman

☆ A top exec at PR giant Edelman lays out its plan to invest in generative AI
▼ + stars: | 2024-04-26 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

To do so, Edelman recently promoted Brian Buchwald to global chair of product and AI to oversee the firm's AI investments. Buchwald joined Edelman in 2023 and was previously the global head of product, trust data, and technology at the firm. Previously, this tool used small language models and now uses generative AI and large language models, Buchwald said. Using generative AI has increased the tool's ability to predict future trustworthiness with 97% accuracy, he said. More broadly, holding companies have made significant investments into generative AI for content creation that compete with Edelman.

Persons: Edelman, Taco Bell, Brian Buchwald, Buchwald, Weber, Interpublic Group's Weber, Jay Pattisall, Forrester Organizations: eBay, Business, New York Times, Google, Adobe, Edelman, WPP Locations: Talkwaker

☆ Mark Penn's Stagwell Group is on the hunt for adtech as the ad company continues its acquisition spree
▼ + stars: | 2024-04-23 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

Stagwell Group, the advertising agency holding group operated by Mark Penn, a former advisor to Bill and Hillary Clinton, is actively looking to buy adtech companies as it continues to grow through acquisitions. Penn's theory is that by bringing such adtech in-house, Stagwell can offer more self-service software to advertisers who want it while also shrinking those clients' ad prices and expanding its own margins. Challenger brand Stagwell is competing for bigger contractsPenn founded Stagwell Group in 2015 with $250 million in funding from investors, including former Microsoft Chief Executive Steve Ballmer. Stagwell recently made a near-$700-million bid for S4 Capital, another challenger ad company founded by longtime WPP CEO Martin Sorrell, The Wall Street Journal reported. Publicis Groupe has the biggest market capitalization of the largest holding companies, at $28.2 billion, while Stagwell is trading at around $1.6 billion.

Persons: Mark Penn, Bill, Hillary Clinton, Penn, we're, Stagwell, Penn didn't, Ana Milicevic, Milicevic, Brian Wieser, Wieser, Steve Ballmer, Sunny, GALE, Allison, Martin Sorrell, they're Organizations: Stagwell, Penn, Business, Google, Harris Poll, Next Partners, Sparrow, Madison, Challenger, Stagwell Group, Microsoft, MDC Partners, WPP, Publicis Groupe, Veritas, S4 Capital, Street Journal, S4, EMEA Locations: adtech, London

☆ Top ad guru Martin Sorrell downplays chances of Trump's Truth Social capturing serious market share
▼ + stars: | 2024-03-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Advertising guru Martin Sorrell has questioned the prospects of Donald Trump's newly public Truth Social platform, saying it was currently "unfathomable" that clients would want to buy ads on the site. Sorrell, founder and executive chairman of digital marketing firm S4 Capital, said when asked if clients were likely to advertise. Trump Media & Technology Group (TMTG), the company behind Truth Social, went public Tuesday after merging with shell company Digital World Acquisition in a deal known as a special purpose acquisition (SPAC). A spokesperson for TMTG firmly dismissed claims that the share price move defied logic when contacted by CNBC. Truth Social lost $10.6 million in the first nine months of 2023 on revenues of $3.4 million.

Persons: Martin Sorrell, Donald Trump's, Sorrell, ", TMTG, Semafor, Trump Organizations: CNBC, Trump Media & Technology, Truth, Associated Press, WPP, Twitter Locations: British, U.S

☆ Ad insiders are buzzing about industry power broker Michael Kassan's messy split with UTA and what it means for the future of MediaLink
▼ + stars: | 2024-03-13 | by ( Lara O'Reilly | Lucia Moses | ) www.businessinsider.com time to read: +9 min

After falling out with Kassan, UTA may think twice about buying another agency. The media and ad industry will be watching to see what, if any, leadership changes UTA makes at MediaLink. The end of the ad industry schmoozefest? One industry veteran said they saw Kassan's exit as an opportunity to change how ad industry consultants operate and charge for services. At the center of the dispute between UTA and Kassan is the MediaLink founder's $950,000 annual expense account.

Persons: Michael Kassan, MediaLink, Kassan, Jeremy Zimmer, Kassan wasn't, Vianney Tisseau, headhunting, Jon Miller, Sanford Michelman, Michelman, Robinson, Ethan Miller, Julian Jacobs, David Anderson, WME, Kassan's, Wenda Harris Millard, wasn't, what's, There's, Lou Paskalis, Marc Sternberg's, Lady Gaga, Elton John, Mariah Carey, Tom Brady, Rob Norman, WPP's Organizations: UTA, Cannes Lions, Consumer, Business, Los Angeles Superior Court, Los, Judicial, Mediation Services, Variety Cannes Lions Studio, Integrated Media, Getty, Talent, Accenture, General Motors, Netflix, JUV Consulting, Madison, Endeavor, Writers Guild of America, Zimmer, Western Initiative Media Worldwide, Interpublic Group, Bank of America, AJL, Marc Sternberg's Brand, Kassan, Southwest, NFL Locations: MediaLink, Cannes, France, Madison, Droga5, Hollywood, Kassan, California, South, Austin

☆ Omnicom agency Merkley+Partners hit with lawsuit accusing ex-creative director of raping a social-media strategist in the bathroom
▼ + stars: | 2024-03-07 | by ( Natalie Musumeci | Lauren Johnson | ) www.businessinsider.com time to read: +7 min

In addition to Diaz, the lawsuit names Merkley+Partners and its parent company Omnicom Group as defendants. Merkley+Partners is a 30-year-old full-service ad firm that has created campaigns for brands including Mercedes-Benz, White Castle, and Florida's Natural. "You went down on me, I went down on you, we had sex," the lawsuit says Diaz told the plaintiff. The lawsuit also says O'Rear was "treated in a cruel and callous fashion" during the firm's investigation. O'Rear's attorney told BI she was no longer working at the ad agency but declined to comment further.

Persons: —, Armando Diaz, Diaz, Merkley, we've, Erin Johnson, Walter Thompson, Mr, O'Rear, I'm, Armando Organizations: Service, New York, Business, Partners, Omnicom Group, Mercedes, Benz, Merkley, WPP, Industry, de Mayo Locations: New York City, Manhattan, White, de

☆ Dell's longtime CMO Allison Dew is set to exit the company
▼ + stars: | 2024-02-26 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +2 min

Read previewDell Technologies Chief Marketing Officer Allison Dew is set to exit the company, Business Insider has learned. A Dell spokesperson confirmed the news and said the company thanked Dew for all she accomplished in her time there. This story is available exclusively to Business Insider subscribers. AdvertisementA longtime Dell executive, Dew became the company's chief marketing officer in 2018. Prior to joining Dell, she held marketing leadership roles at Microsoft and previously had worked at advertising agencies.

Persons: —, Allison Dew, Dew, Dell, Geraldine Tunnell Organizations: Service, Dell Technologies, Business, Dell, Microsoft, Intel, WPP, VMLY, McLaren, PGA

☆ European markets set to open higher as investors focus on euro zone data, earnings
▼ + stars: | 2024-02-22 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a higher open Thursday ahead of a busy day of earnings and data in the region. Preliminary services and manufacturing purchasing managers' index data from the euro zone in February is due Thursday, and will serve as a gauge of business activity in the region. Meanwhile, earnings are due from Nestle, Zurich Insurance, Iberdrola, Telefonica, Lloyds Banking Group, Rolls-Royce, WPP, Anglo American and Hargreaves Lansdown. Overnight, Japan's Nikkei hit a record high on Thursday, with investors shrugging off dismal business activity data from the country, while other Asia-Pacific markets traded in the green. S&P 500 futures rose in overnight trading Wednesday, boosted by a jump in Nvidia shares.

Persons: Hargreaves Lansdown, shrugging Organizations: Zurich Insurance, Iberdrola, Telefonica, Lloyds Banking Group, Royce, WPP, Nikkei, Nvidia Locations: Nestle, Asia, Pacific

☆ Publicis just laid down the gauntlet on the ad industry by pledging to invest more than $300 million in AI
▼ + stars: | 2024-01-25 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

In an hour long video presentation, Publicis execs laid down the AI gauntlet to its competitors as Madison Avenue reckons with how AI technology will transform — and challenge — the ad business. It bought first-party data platform Epsilon in a $4.4 billion 2019 acquisition. "We're in such a fantastic position to leverage AI better than our competition," said Carla Serrano, Publicis Groupe global chief strategy officer in an interview. "There's no such thing as AI without great data and we have connected, proprietary data, and we're a platform company," she added. Publicis said it plans to invest 100 million euros, around $109 million, in building the AI platform in 2024.

Persons: Groupe, execs, Publicis, CoreAI, Sapient, Carla Serrano, Serrano, Michael Farmer Organizations: Business, Madison, reckons, Microsoft, Labs, Epsilon, WPP, Havas, Publicis Groupe, Google, Tech

☆ Why Netflix, Disney, and other Hollywood companies are flocking to CES this year
▼ + stars: | 2024-01-08 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

Advertising and marketing pros made up 7% of CES' attendees in 2023, per CES. Look for topics like the creator economy and the rise of artificial intelligence to dominate the conversation for advertisers, Kassan added. And Roku, which is closing in on its search for a new ad sales head, is sending a large contingent. The cost advertisers pay for streaming ads is expected to decline as platforms release more inventory, particularly with Amazon unleashing ads on Prime Video. Advertisers also have more options with the fast-growing FASTs (free, ad-supported streaming TV channels), which primarily offer older TV shows and movies.

Persons: David Benioff, Weiss, Alexander Woo, Amy Reinhard, execs, It's, who'll, Patrick Pannett, Michael Kassan, Evan Spiegel, Kassan, — that's, Rita Ferro, NBCUniversal's Mark Marshall, NBCU's Peacock, NBCUniversal, Peacock, NBCU, Tanner Elton, Amy McDevitt, Ludacris, Jon Steinlauf, GroupM Organizations: Netflix, CES, Business, Consumer Technology Association, Madison Avenue, Walmart, Disney, Nexstar Media Group, Nvidia, Paramount, CTA, Tech, NBC, Bravo, Amazon Ads, Warner Bros, Magna, CTV, Hulu, Intelligence, Prime Video Locations: Las Vegas, Peacock

☆ Inside WPP's multiyear plan to transform its giant media buying business GroupM
▼ + stars: | 2023-11-14 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

While GroupM always had country-level P&Ls, it previously let its individual agencies — EssenceMediaCom, Wavemaker, MSix&Partners, and Mindshare — be responsible for their own budgets. This move is the latest in Juhl's plan to make these different media agencies follow similar business practices across all of the markets in which GroupM operates. Under Juhl, GroupM centralized media delivery within a unit called Nexus and centralized all of GroupM's data and technology within a unit called Choreograph. Juhl said that despite the push to streamline its business, GroupM's individual agency brands will continue to operate as separate entities rather than a homogenous media group. WPP said last month it will reveal more details about its plans to simplify GroupM at its Capital Markets Day in January.

Persons: Christian Juhl, GroupM, Juhl, —, Publicis, EssenceMediaCom, Mindshare, Kirk McDonald Organizations: Business, Ls, MSix, Partners, Groupe, Unilever, North America, WPP Locations: GroupM, China

☆ ‘Disappointed Again’: Ad Companies Suffer as Tech Firms Clip Spending
▼ + stars: | 2023-10-30 | by ( Megan Graham | ) www.wsj.com time to read: 1 min

Ad agency holding companies say they are being hurt by more cautious technology advertising. At Meta Platforms, for instance, outlays for marketing and sales decreased 24% in the third quarter. Photo: kena betancur/Agence France-Presse/Getty ImagesSome of the major advertising holding companies are still feeling the impact of lower spending from technology clients—with some hit harder than others. Recent quarterly results from Interpublic Group , Omnicom Group , WPP and Publicis Groupe showed that many of their units are seeing more caution from some advertisers, slower project work, delayed starts of new business or other signs of a pullback.

Persons: kena Organizations: Agence France, Interpublic, Omnicom, WPP, Publicis Groupe

☆ Kirk McDonald, North America CEO of WPP's GroupM, will leave the company. Read the internal email about his departure.
▼ + stars: | 2023-10-30 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

Kirk McDonald, the North America CEO of WPP's media buying division GroupM, is set to leave the company, GroupM confirmed on Monday. Mindshare Global CEO Adam Gerhart will take on additional duties as GroupM North America CEO while the company searches for a permanent replacement, Juhl wrote. "He has also been a valuable partner to me and the global GroupM leadership community more broadly." Under McDonald's leadership, GroupM North America has sought to implement a "responsible investment strategy." He has also been a valuable partner to me and the global GroupM leadership community more broadly.

Persons: Kirk McDonald, GroupM, Christian Juhl, McDonald, Adam Gerhart, Juhl, Kirk, Mark Read, Read, Mark Read's bounceback, we've, Kirk McDonald's, I'm, Adam, He's, Christian Organizations: North America, GroupM Global, Mindshare, North, America, WPP, Adobe, GroupM, AT, Time Inc, CNET, Pacific Islanders, Mindshare's Global, GroupM North, Global, NA Locations: Canada, North America, GroupM, America, American, GroupM North America, New York

☆ These skills could earn you more money and help futureproof your career
▼ + stars: | 2023-10-29 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Workers with AI skills earn up to 40% more than those without them, new research finds. It comes as companies increasingly aim to hire staff with specialized AI skills. The study, which surveyed 25,000 freelance workers, showed that knowledge of machine learning, open-source AI software, and deep learning salaries were the skills employers valued the most. Speaking at the Google Cloud Next conference in London earlier this month, Unilever chief technology officer Adam Raeburn-Jones said AI skills will be a crucial factor in future hiring decisions. Stephan Pretorius, CTO of advertising agency WPP, said his company was now hiring people with specialist AI skills, and that employers would have to battle to attract young workers with AI expertise.

Persons: —, Fabian Stephany, Adam Raeburn, Jones, Jobseekers, Raeburn, Stephan Pretorius Organizations: Service, Workers, Research, Oxford Internet Institute, University of Copenhagen, Google, Unilever, WPP, Columbia University Locations: London

☆ WPP slashes outlook again as China slowdown adds to tech woes
▼ + stars: | 2023-10-26 | by ( Paul Sandle | ) www.reuters.com time to read: +2 min

Branding signage for WPP, the largest global advertising and public relations agency at their offices in London, Britain, July 17, 2019. "But I do think in the long run that will correct itself and those companies will become drivers of growth." Read said it was also a tougher quarter in China, where consumer spending had not returned as expected. Analysts at Citi said it was striking that the step down was "not necessarily caused by an intensification of the pressures in the second quarter but by a broadening of pressure". WPP said this month it would merge Wunderman Thompson and VMLY&R to create the industry's largest creative agency.

Persons: Toby Melville, Mark Read, Read, Wunderman Thompson, Paul Sandle, William James, Jason Neely Organizations: WPP, REUTERS, Tech, Technology, Citi, Thomson Locations: London, Britain, China, GroupM, United States

☆ London stocks slip as downbeat earnings weigh
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies FTSE 100 down 0.8%, FTSE 250 off 0.6%Oct 26 (Reuters) - The UK's FTSE 100 edged lower on Thursday as Standard Chartered led a slide in bank stocks and Unilever led a drop in consumer shares after the two blue-chip companies posted disappointing earnings. The FTSE 100 (.FTSE) declined 0.8% by 0709 GMT, while the mid-cap FTSE 250 (.FTMC) dipped 0.6%, extending losses to a third straight day. Shares of Standard Chartered (STAN.L) dropped 12.8%, the most on the FTSE 100, after the UK lender flagged a 33% drop in pre-tax profit in the third quarter. The Dove soap maker's shares fell 3.1%, while the personal care, drug and grocery stores index (.FTNMX452010) lost 1.9%.

Persons: Toby Melville, Khushi Singh, Savio D'Souza Organizations: London Stock Exchange Group, City of, REUTERS, Chartered, Unilever, FTSE, Standard Chartered, WPP, Thomson Locations: City, City of London, Britain

☆ Suzanne Vranica — Advertising Editor at The Wall Street Journal
▼ + stars: | 2023-10-25 | by ( Suzanne Vranica | ) www.wsj.com time to read: +1 min

Suzanne VranicaSuzanne Vranica covers the advertising and marketing industries and is part of The Wall Street Journal’s media & marketing bureau in New York. During her long tenure on the beat, she’s covered the inner workings of Madison Avenue and companies such as WPP, Omnicom, and Publicis. Her stories often chronicle how advertising across all forms of media is being disrupted by technology and data. Suzanne helped launch CMO Today, a web vertical started by the Journal in 2014 that addresses the rapidly transforming marketing businesses and the role of marketing in the C-Suite. A New York native, Suzanne is a graduate of Iona College.

Persons: Suzanne Vranica Suzanne Vranica, she’s, Suzanne Organizations: WPP, Omnicom, Google, Iona College Locations: New York, Madison, Westchester County

☆ China's crackdown on Foxconn, one of Apple's biggest suppliers, shows Beijing is willing to sacrifice its economy for political power
▼ + stars: | 2023-10-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

China has launched investigations into Taiwan's Foxconn over its land use in mainland China. AdvertisementAdvertisementEven Foxconn, China's largest private-sector employer, isn't immune from Beijing's whims. Foxconn, also known as Hon Hai Precision Industry, is a huge contributor to China's employment and economic growth. Given how important Foxconn is to China's economy, it's a sign that Beijing is willing to make some sacrifices in its economy for political reasons, Liu said. China's economy is in tattersChina's economy has struggled to recover after nearly three years of on-off COVID-19 lockdowns.

Persons: —, Terry Gou, Foxconn, William Lai, KMT's Hou Yu, Ko Wen, Anna Ashton, Lai, China —, Gabriel Wildau, Zhu Fenglian, Dongshu Liu, Liu, they've, Insider's Linette Lopez, Xi, Lee Miller, Lopez, Liu Pengyu Organizations: Service, Hai Precision Industry, Apple, Democratic Progressive Party, ih, Taiwan People's Party, Eurasia Group, Gzero Media, KMT, Teneo Holdings, Bloomberg, Foxconn, Taiwan Affairs Office, City University of Hong, WPP, DC Locations: China, Beijing, Taiwan —, Taiwan, Taipei, New York, City University of Hong Kong, tatters, Washington, Foxconn

☆ Insiders question WPP CEO Mark Read's bounceback plan after chaotic period of mergers, account losses, and a stock market slump
▼ + stars: | 2023-10-25 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +11 min

"OMD and Publicis are winning all the meaningful pitches," said a former WPP agency executive, referring to competitors Omnicom and Publicis Groupe. Further, GroupM is just one of the many parts of WPP's business that Read needs to fix. Insiders describe a whirlwind of change but confusion about the bigger visionA current WPP agency executive said they were frustrated by what they described as a vacuum of information about the bigger strategy for WPP. Getty Images"It feels like something bigger has to happen now," said a current WPP agency executive. The ongoing pitch for Volkswagen's $4 billion global media business underscores the tremendous amount of resources needed to win the proposal, and the huge prize at stake.

Persons: Christian Juhl, San, GroupM, Publicis, Kirk McDonald, McDonald didn't, Ogilvy, it's, Thomas Singlehurst, Juhl, Mark Read's, It's, Read, Martin Sorrell, AKQA, Sard, Wunderman Thompson, J.Walter Thompson, Joanne Wilson, Andrew Scott, Roberto Quarta, Angela Ahrendts, Craig Barritt, —, haven't, Clark, Arthur Sadoun, WPP's Read, Michael Farmer Organizations: WPP, Publicis, L'Oreal, Omnicom Media Group, Pfizer, North, GroupM, Verizon, Discovery, Adobe, Citigroup, Shanghai, reined, AKQA Group, Finsbury Glover, Partners, Young, Rubicam, London Stock Exchange, Brexit, Getty, Burberry, Apple, The New School Industry, VW, Groupe, Epsilon Locations: San Francisco, China, EssenceMediaCom, Kansas, Kansas City, New York, Mayfair , London, New York City

☆ WPP Fires Employee Detained in China, Launches Investigation Into Bribery Charges
▼ + stars: | 2023-10-23 | by ( Patience Haggin | ) www.wsj.com time to read: 1 min

GroupM is an ad-buying unit of WPP. Photo: Toby Melville/REUTERSWPP said it terminated the executive currently detained in China on charges of bribery and is conducting its own investigation into the matter. On Saturday, the Shanghai police’s economic crimes investigation division said that three suspects at an unnamed advertising company had been detained on criminal charges of accepting bribes as nonpublic officials. That statement referred to one current and two former employees of GroupM, an ad-buying unit of WPP, The Wall Street Journal previously reported.

Persons: Toby Melville Organizations: WPP, Street Locations: China, Shanghai

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