Mark Read to be revealed as new CEO of WPP next week

Mark Read will be revealed as the new chief executive of WPP next week, succeeding Martin Sorrell at the top of the world's largest advertising group and the owner of companies such as Group M, Ogilvy & Mather and J Walter Thompson.

Mr Read, the internal favourite for the job, previously ran Wunderman, a WPP digital agency. He has been running WPP as co-chief operating officer alongside Andrew Scott since April, when Sir Martin abruptly resigned.

His appointment could be confirmed as early as Tuesday when WPP reports interim results according to multiple people briefed on the process. WPP declined to be drawn on the precise timing of announcement nor identity of the likely new chief executive but confirmed that news was expected in September.

Sir Martin’s left WPP following an investigation into a misconduct allegation. His exit sparked a global search for his successor, with several top media names considered as a successor.

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With Sir Martin out of the picture, Roberto Quarta, the group's non-executive chairman, became executive chairman on a temporary basis. He is expected to move to a non-executive role upon Mr Read's appointment. - Copyright The Financial Times Limited 2018