Advertising giant WPP taps new CEO to lead the firm in a challenging AI landscape

Britain’s WPP named board member Cindy Rose as its new chief executive on Thursday, tasking the senior Microsoft executive with leading its recovery a day after a major profit warning showed the scale of the challenge at the ad group.

Rose has been on the board since 2019 and will take over from outgoing CEO Mark Read on Sept. 1, the company said, with Read departing four months earlier than expected.

Shares in the group, which fell to a 16-year low on Wednesday after it slashed its profit outlook, rose 2% in early deals.