Ajaz Ahmed’s Studio.One is already gaining momentum just days after the AKQA founder escaped his WPP gardening leave with a new logo, Soho office and, it seems, considerable interest from clients.
Ahmed says there’ll be three strings to his bow – creativity, culture and capital – built on The Lab (creative fulcrum), R&D and partnering with growth companies wishing to combine creativity and technology. He says size isn’t the main objective although that depends on business.
WPP reported a whopping £237m impairment charge in its last accounts, based, it said, primarily on AKQA and reflecting a slowdown in project business and the likely impact of Ahmed’s departure along with other senior execs. WPP CEO Mark Read said in an interview that he had no intention of “surrendering” AKQA, presumably meaning succumbing to a management buyout.
WPP still regards AKQA (currently including Grey and headed by WPP chief technology officer Stephan Pretorious) as one of its six key networks alongside Ogilvy, VML, media operation GroupM, PR firm Burson and production unit Hogarth.
