WPP Boss Mark Read Steps to the bottom while advertisers are struggling with the rise of artificial intelligence

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Mark Reed, CEO of WPP, is removed from the largest set of ads in the United Kingdom as it struggles with the lowest five -year level in its prices and its disturbance at the industry level caused by artificial intelligence.

The reading exit will end more than 30 years in WPP and let it search for a new executive president through someone Most of the troubled periods at all For industry. He will continue as an executive chairman until the end of the year, while the Board of Directors begins searching for a successor.

Former BT Boss Philip Yansen The group’s president became At the beginning of the year, which sparked speculation about the future of reading. In an internal observation of the employees who saw it at the Vinanchel Times times, Red said, “There is no perfect time to go forward. But this seems like the time for me.”

In a statement on Monday, Yansen said Read “He played a major role in converting the company into a world leader in modern marketing services.”

During Reed as CEO, WPPThe price of the stock decreased in half, as the market value increased to about 6 billion pounds, while sought to restructure the group’s global operations, simplify them and invest more in technology.

WPP stocks fell by 1.3 percent in early trading on Monday.

Last year, WPP lost its position as the largest advertising agency in the world through its revenues for the French in Publicis, while its largest competitors announced – omnicom and IPG – Integration To create one of North America to advertise heavy weight. WPP is still the largest set of advertisements in Britain, with proceeds of approximately 15 billion pounds and more than 100,000 employees worldwide.

In 2018, he took over from Sir Martin Surrell – who resigned after investigating his behavior at the workplace – and supervised the company because it tried to re -direct its work to overcome the dominance of the advertising market by Tech Giants Meta and Alphabet.

Social media and influences have become major marketing channels, while traditional advertising media such as television has shrunk.

Recently, Read WPP has paid for investment Hundreds of millions of pounds in artificial intelligence, Which threatened to raise the advertising agency model by providing much faster and cheaper methods to carry out creative planning and intense media. More than 50,000 people now use WPP Open, AI platform, to help them work.

I told FT reading in January that WPP needed this Go from a difficult period to restructure And rebuild its network of companies with artificial intelligence in the center.

In the internal observation of employees, Read said that the company “needs to make many difficult decisions that were necessary to better serve our customers, simplify the company, build our culture and put WPP on a more solid financial foot.”

He added: “We also lived through some of the most challenging external events in the modern era, from the epidemic to war in Ukraine, and moved to an increasingly difficult and difficult world. However, I believe a firm belief that the future of WPP is a very positive one.”