Mark Read, the CEO of FTSE 100-listed ad giant WPP, says he has ambitions to do more business in and “get closer” to the U.S. and as confidence rises under President Donald Trump.
While WPP’s agencies, such as Ogilvy and VML, are present in the States, Read says he keeps a keen eye on the New York Stock Exchange to possibly move WPP’s primary listing there from London one day.
“Other CEOs who have moved their listing to the US have found a positive experience,” Read told the Financial Times in an interview published Thursday. High-profile companies have indeed scurried to the U.S. for listings recently, including Ashtead and Flutter, in search of better growth opportunities.
“We have to drive topline growth to drive the share price — I’m very focused on that,” said Read.
A large chunk of WPP’s business—nearly 40%, according to the FT—comes from the U.S., making it a significant market. The company now wants to increase its presence across the pond, feeling a “sense of ambition and growth,” under the Trump administration.
Read’s growth ambitions for 2025 are set against a backdrop of rising tensions among his workforce, who WPP has ordered back into the office for at least four days a week starting April.
WPP’s workforce backlash
In his memo to WPP’s 114,000 employees announcing the change on January 7, Read wrote: “I believe that we do our best work when we are together in person.”
However, the decision quickly riled up the company’s workforce, prompting a change.org petition to reverse the mandate that’s gained nearly 20,000 signatures. The public petition is also open to non-employees.
An internal message board for WPP employees on the Fishbowl platform received a barrage of posts and comments criticizing the RTO mandate and the CEO directly.
One post seen by Fortune stated that an employee was explicitly asked not to sign the public petition by their boss despite the thousands of signatories already there. Another user speculated that Read’s RTO edict could lead to his exit if shareholders revolted.
Managing such a vast global return to the office will be a huge task for the organization.
One internal FAQ document shared by WPP with its staff and seen by Fortune noted that office attendance monitoring “may include security swipe-card and office entry data.” It warned that non-compliance, in the most severe case, could result in an employee’s termination.
Employees have also raised concerns about seating capacity at agency offices when people return to work, as WPP has allowed a hybrid schedule so far. In its FAQ, WPP told staff that it would be “actively reviewing space usage and exploring solutions” that could include “optimizing its current spaces.”
Much of WPP’s success came in the mid-2010s, when founder and then-CEO Sir Martin Sorrell bulked up its ad and media holdings through acquisitions to make it the powerhouse it is today. But the seeds of WPP’s recent chaos were planted several years ago when the ad giant began trailing behind competitors, The Times reported.
It remains to be seen how WPP navigates the next few months as anger among staffers builds up. Based on how Read sees it, more in-office presence could help WPP turn a corner. Many staff clearly disagree.
WPP’s share price has tanked 27% in the last five years, while that of its rival Publicis Groupe has risen 140% during the same period.
Representatives at WPP declined Fortune's request for comment.
Correction, January 23, 2025: A previous version of this article referred to VML's pre-merger name, Wunderman.
