Insider Mark Read set for top job at WPP after the departure of Sir Martin Sorrell
Matt Oliver for the daily mail
WPP insider Mark Read will be unveiled next week as the next boss of the advertising giant.
The 51-year-old, currently joint operating chief alongside Andrew Scott, has been the forerunner since the abrupt retirement of former chief executive Sir Martin Sorrell.
He previously ran the digital advertising agency Wunderman, a subsidiary of WPP, and his promotion was confirmed on Tuesday next to the half-year results.
All changes: Mark Read is the forerunner since the abrupt exit of former chief executive Sir Martin Sorrell (photo)
WPP refused last night to confirm Read's agreement or to say when an announcement would be made. But a city source said: "Everyone thinks it's going to be Mark. We expect to have news in September. & # 39;
Cambridge Graduate Read was temporarily responsible for WPP after the departure of Sorrell in April. Sorrell, 73, left under a cloud of assertions of misconduct, following allegations that he had spent £ 300 in company money on a prostitute.
He strongly denies the allegations and WPP never revealed details of his internal probe. But the loss of the boss of the group of 30 years caused months of unrest.
As a towering figure at the company and the broader advertising industry, Sorrell built WPP from a small shopping cart manufacturer to one of the world's most powerful advertising agencies worth more than £ 14 billion.
Read, on the other hand, founded WebRewards in 1999 and sold it to Bertelsmann two years later.
He then joined WPP in 2002 and worked as a company ladder and was appointed chief executive of Wunderman in 2015 before joining Scott as temporary joint boss of WPP in April.
Since then he reports directly to chairman Roberto Quarta. Insiders say that he has long been seen as a safe pair of hands to take over.
The rise of Read is because WPP is faced with competition from technological giants such as Google and Facebook, who bypass traditional agencies and sell advertisements directly.