WPP shares slip after Ford says it will take bids from other ad agencies [CNBC]
WPP plc American Depositary Shares (WPP)
US:NYSE Investor Relations:
wpp.com/wpp/investor/financialnews
Company Research
Source: CNBC
Shares in the world's largest advertising firm, WPP , fell Monday after investors learned that one of its biggest clients is reviewing its marketing spend. Ford Motor Company said Saturday that it is to take bids from a number of other firms for some of its advertising that is presently managed by WPP. The decision comes hot on the heels of the departure of founder and chief executive, Sir Martin Sorrell, who left the firm last week after 33 years amid an allegation of personal misconduct . In a statement provided to CNBC by Ford Britain, the automaker said WPP would now have to compete to retain some of its existing business. We are going to place some portions of our advertising business up for bids with other agencies, including WPP, beginning in the coming weeks. No decisions have been made, Ford Britain said. We value the talented and creative women and men at WPP. They are trusted partners and curators of the Ford brand, it added. The website Stati
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WPP
Sec Filings
- 5/2/24 - Form 6-K
- 5/1/24 - Form 6-K
- 4/25/24 - Form 6-K
- WPP's page on the SEC website