"When Cindy Rose took the helm at the advertising agency giant WPP in September, she inherited one of the most challenging jobs on Madison Avenue. Battered by a period of big account losses, internal restructuring, and thousands of layoffs, morale had sunk. So was the share price. London-based WPP was trading at lows not seen since 2009, and the company had warned investors that the remainder of the year would continue to be rocky."
"Insiders and shareholders were hopeful that Rose, a US-born executive most recently at Microsoft, could serve as a kind of Goldilocks porridge compared to her predecessors. She was widely seen as a happy medium between Martin Sorrell, the outspoken British business mogul who had built WPP from the ground up over 33 years, and Mark Read, the more introverted operator who took over in 2018."
"Rose's wins during her first 100 days - some major new business, key hires, a big partnership with Google, and an oversubscribed bond sale - have been dampened by bad news. On her first earnings call, in October, Rose described the company's performance as "unacceptable." Shortly after delivering its second profit warning of the year and downgrading its full-year growth forecast, its shares spiraled further downward, and WPP was demoted from the FTSE 100 index of the UK's largest pub"
Cindy Rose became CEO of WPP in September and inherited major challenges including big account losses, internal restructuring, thousands of layoffs, low morale, and a depressed share price. WPP traded at lows not seen since 2009 and warned investors the rest of the year would be rocky. Rose arrived from Microsoft and was positioned between predecessors Martin Sorrell and Mark Read; analysts labeled her a "peacemaker" and noted her tech and client-relationship experience. During her first 100 days she secured major new business, key hires, a Google partnership, and an oversubscribed bond sale, but the company issued a second profit warning, cut growth forecasts, and saw shares fall further, culminating in removal from the FTSE 100.
Read at Business Insider
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