WPP appoints Microsoft chief executive Cindy Rose to the board
WPP, the world's largest advertising agency, has welcomed Microsoft UK chief Cindy Rose to its board as a non-executive director.
She will join from 1 April and will also join the company's audit committee.
The Times reports Ms Rose has run Microsoft’s British business since 2016, when she joined from Vodafone. She also sits on the board of Informa, an academic publishing company.
WPP chairman Roberto Quarta, commented: “Cindy is one of the most admired and respected figures in the technology industry, and we are delighted to welcome her to the WPP board. Her deep understanding of the role of technology in business transformation will be invaluable as the executive team implements its new strategy for growth.”
Rose added: “WPP has set out a bold new vision for its future as a creative transformation company, with a commitment to invest in talent, technology and culture. I look forward to supporting the team and making a contribution at such an exciting and important moment in the company’s development.”
Earlier this month WPP reported a 30 per cent fall in its full year results and said the outlook for 2019 was ‘challenging’.
It’s the first set of results under new CEO Mark Read, who took over role last September from long time CEO Sir Martin Sorrell.
Pre tax profit fell 30.6 per cent to £1.46bn, revenue fell 2.6 per cent to £12.82bn and operating margins dipped 1.1 per cent to 15.3 per cent.
Basic earnings per share dived 39 per cent to 85.2p, down from 144p in 2017, and the dividend was flat year on year at 60p per share.
However, the London-based firm did manage to reduce its net debt by £466m to £4.02bn thanks to disposals.