Agency group also continues CEO search
As WPP continues its search for a new CEO, the agency holding group has revised down its profit forecast for the rest of 2025.
The company now expects like-for-like revenue, excluding pass-through costs (such as third-party vendor fees), to decline by 3–5%, citing a “challenging economic backdrop” that has significantly impacted client spending. WPP also reported fewer new business wins than anticipated.
Outgoing CEO Mark Read commented:
“Since the start of the year, we have faced a challenging trading environment, with macroeconomic pressures intensifying and lower net new business. While we expected the second quarter to be similar to the first, performance in June was worse than anticipated, and we expect this pattern to continue into the second half of the year.”
WPP has faced several major client losses so far in 2025, including:
- Mars – a $1.7 billion global media account won by Publicis in June
- Coca‑Cola – a $700 million North American media account
- Paramount – ending a 20‑year partnership
These setbacks, set against a subdued market outlook, are key drivers behind the revised revenue forecast.
