公司动态 2025年7月，全球广告行业的领军企业WPP迎来历史性的时刻。微软高管Cindy Rose将接替Mark Read， 成为WPP的新任首席执行官（CEO），这也是该公司历史上首次由女性领导。Rose的任命不仅打破了 性别壁垒，也为WPP注入了新的能量，尤其在当前广告行业日益依赖技术和AI的背景下，她的到来无 疑为公司指明了新的方向。 WPP的变革与挑战：接班时机的特殊性 Cindy Rose的到来恰逢WPP在经历一段艰难的时期。2025年上半年，公司在多个方面面临压力，特别是 在客户流失、裁员、企业重组以及办公复工计划的失败等方面。这些挑战已经导致WPP股价大幅下 跌，甚至被竞争对手法国的阳狮集团（Publicis Groupe）超越，失去了全球广告行业最大广告网络的地 位。 此外，WPP在财务方面也面临着严峻考验。今年7月9日，WPP发布了令人震惊的利润预警，预计2025 年收入将下降3%至5%。尽管如此，Read在任期内加大了对AI和数据的投资，收购了数据清理平台 InfoSum，并每年投入3亿英镑用于开发WPP Open等自有AI工具。 性别多样性与领导力的突破 Cindy Rose的任命也具 ...

财报解读 2025年7月9日，全球广告巨头WPP突然发布了一则未经安排的财报更新，将全年业绩预期大幅下调。这一消息迅速在资本市场和广告行业内引发震动：当 天WPP股价应声下跌18.09 %，创下2020年以来最大单日跌幅。 收入指引骤降，裁员未能止损 根据WPP发布的2025年上半年交易更新,WPP集团预计上半年可比营收（剔除转手成本）将同比下降 4.2%至4.5%，其中第二季度单季降幅或达 5.5%至6%， 大大低于市场预期； 上半年核心经营利润预计为 4亿至4.25亿英镑，利润率降至 8.0%至8.5%，同比下滑约300个基点； 预计全年营收将下滑 3%至5%，而此前预测为 0%至-2%； 全年核心利润率预计下降 50至175个基点，显著低于此前"基本持平"的预期。 值得注意的是，WPP已在2024年上半年裁员约3,800人（占总员工数的3.5%），并计划通过WPP Media的重组与优化行动实现 每年1.5亿英镑的结构性成本节 省。但显然，在需求持续疲软的背景下，这样的止损措施尚未形成有效反弹。 客户流失严重，"阳狮化"趋势增强 里德在财报电话会上承认，WPP的业绩重灾区主要集中在 WPP Media， ...

Core Viewpoint - The advertising industry is facing significant challenges, with WPP's unexpected profit warning indicating a potential downturn, leading to a decline in shares across major ad groups and raising concerns about the impact of AI on traditional agency business models [1][2][10]. Company Summary - WPP has reported a combination of client losses, a slowdown in new business pitches, and cautious marketing strategies due to economic uncertainty, forecasting a revenue decline of 3% to 5% for 2025 [2][4]. - The outgoing CEO of WPP highlighted that new business pitches in 2025 are at one-third of the level compared to the same period last year, reflecting decreased marketer confidence [4]. - WPP has lost key clients, including Pfizer and Coca-Cola's North America account, and has undergone restructuring efforts to enhance competitiveness, which have caused distractions within the business [16][18]. - WPP plans to invest £300 million (approximately $407 million) annually in AI and related technologies, including an investment in Stability AI and the development of an AI-powered platform called WPP Open [14][15]. Industry Summary - The advertising sector is grappling with the rise of AI, which presents both opportunities and threats, as it may streamline services traditionally offered by agencies and challenge their business models [3][5]. - Analysts have noted a sharp decline in new business pitches, suggesting that corporate clients may be replacing some agency services with in-house AI solutions [5][9]. - Major agency groups like Publicis and Omnicom are committing to invest hundreds of millions in AI to adapt their operations [11]. - The competitive landscape is shifting, with Publicis performing well and maintaining its rating despite downgrades for WPP, IPG, and Omnicom due to immediate risks posed by AI [17][18].

WPP中国总裁韦棠梦表示："品牌如今需要的是能将创意转化为规模化、成本可控、效果可衡量的合作 伙伴。何思敏的加入，将进一步推动我们以AI赋能的服务能力升级，加速无锡中心成为客户业务增长 的强力引擎。" 该职位为新设岗位，标志着WPP在中国市场深化交付能力、加速客户转型的战略升级。自2024年7月正 式启动以来，无锡中心已汇聚超过150名运营与交付专家，未来计划在2026年底前扩充至三倍规模，持 续强化在社交、内容、效果营销及商务运营等关键领域的服务输出。 何思敏表示："我非常高兴加入WPP，在创意与技术融合的大趋势下，与无锡团队一道打造更灵活、高 效、富有创新力的解决方案，助力客户品牌实现可持续增长。" （原标题：WPP任命何思敏为中国交付与客户转型董事总经理，领导无锡运营与交付中心） 何思敏拥有超过15年的业务转型及团队管理经验，曾担任Initiative中国区首席执行官，并在中国市场成 功创立Digitas代理商品牌。她曾担任2023年戛纳国际创意节终审评委，并入选《Campaign Asia》"亚太 地区最值得关注女性"榜单（2022年）。 2025年6月16日，WPP正式宣布任命何思敏（Sharon ...

一、至暗时刻？ 6月11日，快消巨头玛氏公司宣布其价值17 亿美元，在全球70个市场的广告业务交给阳狮集团，这其中包括M&M's、士力架、宝路等知名品牌。 此前，玛氏公司一直是WPP的大客户。早在今年3月，WPP就丢掉了可口可乐在北美的媒体业务，随后电影公司派拉蒙也结束了与WPP长达20年的合作关 系。 对WPP来说，这不是最坏的消息。2024年底的时候，WPP营收排名第一的宝座被法国竞争对手阳狮集团夺走。 6月8日，WPP首席执行官马克·里德 (Mark Read) 宣布将卸任，里德在WPP集团任职长达30 年，担任CEO也有七年时间。 里德的离职半年前就已经有传闻。今年年初，前英国电信（BT）首席执行官菲利普·詹森（Philip Jansen）出任WPP董事长，当时就已经引发了行业对里德 离职的猜测。据英国《卫报》的报道，"詹森在正式上任董事长几个月前，就开始向公司高管征求意见。同时他也积极从基层征求建议，了解哪些措施有 效，哪些无效。"一位WPP高管说道。"他的很多调查角度都与里德的改革有关。" 很多人认为：里德的离开只是时间问题，他需要为当下WPP的业绩表现负责。 里德离职的消息发布后，WPP集团的股 ...

WPP Media 的全新官网首页，用一句醒目的口号勾勒行业愿景："Media is changing. So are we."（媒体 在变革，我们亦如是。） （原标题：WPP发布AI驱动媒体品牌"WPP Media"，标志GroupM正式谢幕） 群邑谢幕，WPP Media登场 据官方新闻稿，WPP Media 的设立旨在应对广告主对整合型营销服务日益增长的需求。该品牌将作为 WPP 旗下媒体业务的统一门面，管理超过600亿美元的年度媒体投资，服务于全球逾75%的顶级广告 主，业务覆盖80多个市场。 尽管"群邑"品牌退场，WPP Media 旗下三大核心代理品牌——传立（Mindshare）、蔚迈 （Wavemaker） 和 精识媒体（EssenceMediacom） 将继续运营，通过共享资源、技术与支持功能，为 客户定制化构建专属服务团队。 5月28日，WPP 宣布推出全新人工智能驱动的媒体品牌 WPP Media，这也意味着集团旗下老牌媒体代 理品牌群邑（GroupM）正式退出历史舞台。 WPP Media 的核心动力源自集团自研的AI营销系统 WPP Open。该平台整合了创意、制作、数据、商 务与个 ...

Financial Performance and Key Metrics Changes - In Q1 2025, net sales decreased by 2.7%, aligning with company expectations, but the management expressed dissatisfaction with these results [4][12] - Revenue less pass-through costs fell by 7.6% in the quarter, impacted by the FGS Global disposal and foreign exchange fluctuations [13] - Adjusted net debt at the end of March was GBP 3.7 billion, down year-on-year but up from year-end, with an average adjusted net debt to headline EBITDA ratio expected to be within the target range of 1.5% to 1.75% in 2025 [25][26] Business Line Performance Changes - Global Integrated Agencies saw a like-for-like decline of 2.8%, with GroupM down 0.9%, reflecting growth in the U.S. but offset by prior year client losses and a challenging media environment in Europe [14] - Public Relations experienced a like-for-like decline of 6.2%, while Specialist Agencies grew by 1.2%, driven by strong performance from CMI Media Group [17] - Hogarth, the production business, returned to high single-digit growth, indicating a recovery from previous challenges [16] Market Performance Changes - North America saw a slight decline of 0.1% in Q1, with growth in automotive, TME, and financial services sectors, while the U.K. declined by 5.5% due to project-based work and client losses [18][19] - Western Continental Europe experienced a like-for-like decline of 4.5%, primarily due to pressures on project-based businesses [20] - China faced significant challenges, with a decline of 17.4% in Q1, attributed to macroeconomic pressures and client assignment losses [20] Company Strategy and Industry Competition - The company is focused on three strategic priorities for 2025: driving adoption of WPP Open, supporting GroupM's growth, and improving new business success rates [44] - The acquisition of InfoSum is seen as a significant step forward in enhancing data intelligence for clients, aiming to improve marketing effectiveness and efficiency [52][56] - The management emphasized the importance of geographic and client industry diversity as a strategic advantage in navigating the uncertain macro environment [39] Management's Comments on Operating Environment and Future Outlook - The management acknowledged the challenging macro environment, particularly due to tariff uncertainties, but noted that there has not been a significant change in client spending patterns [8][38] - There is cautious optimism regarding the second half of 2025, with expectations for improved performance as new business wins ramp up [29] - The management remains vigilant and disciplined in managing costs while continuing to invest in strategic initiatives [9][30] Other Important Information - The company expects to maintain a flat headline operating margin for the year, excluding the impact of foreign exchange, supported by structural cost savings and disciplined cost management [30] - The impact of foreign exchange is now expected to be a drag of 2% for the full year, affecting margins [32] Q&A Session Summary Question: On GroupM's simplification and cost efficiencies - The management expects increased cost efficiencies from GroupM's simplification initiatives, with benefits anticipated more in 2026 than in 2025 [62][67] Question: Impact of net new business in Q1 - The impact of net new business in Q1 was slightly down year-on-year, with expectations for a drag in H1 and better performance in H2 as recent wins ramp up [68][69] Question: Margin expectations for H1 - The management indicated that H1 margins would be impacted by top-line performance but expects to deliver flat margins for the year, excluding FX [70] Question: Comparison of current ad market behavior to 2009 - The management noted that while there is uncertainty, clients have learned to prioritize spending, and there has not yet been a major pullback in spending patterns [76][80] Question: Performance of AKQA and potential asset disposal - The management clarified that while AKQA has been weak, there are no immediate plans for disposal, and they are focused on improving performance [122][123] Question: Realistic expectations for H2 performance - The management suggested that while H2 needs to be positive to reach the midpoint of guidance, there are factors such as new business wins that could support this [124]