Can Cindy Rose unearth a winning culture for WPP?
WPP’s Cindy Rose succeeded in calming some first night investor nerves with a well-received presentation yesterday, outlining her Elevate 28 three-year plan to return what it is still one of the world’s biggest ad holding companies to profitable health.
Key to this, though, is that it’s not going to be a holding company any more. Such entities, Rose says, have no ‘culture’ and she wants the new integrated WPP to have one, a bit like a new PE teacher coming in and calling for more team spirit.
Culture is one of those words that forever catches out adland, used for all sorts of purposes it was never intended. In Sir Martin Sorrell’s day WPP had a very pronounced culture: it was going to be the biggest because big attracted big (advertisers that is.) Just as such outfits do in law, accountancy or consultancy. But most high growth, high pressure businesses hit the buffers at some stage and WPP duly did.
Rose’s more measured approach may work in today’s market; it should at least stabilise things which is the driving idea for year one of Elevate 28.
Will WPP staffers buy into it, in particular those from the creative side of the organisation who are now, Rose says – although not overtly – to be led by media. Historically creative types have rather looked down on their media colleagues, including at WPP. Key to Rose’s fortunes is the relationship between her and WPP Media boss Brian Lesser. He’s over there and she’s here, which may be a problem.
Fear, of course, is a great motivator and with AI stalking the corridors of the world’s people-led businesses WPP staff will be grateful to be still employed, albeit in a much-changed organisation. But that won’t last for ever.
Rose still has to reveal the detail of what she’s planning and some of it, particularly cost cuts, will be painful. She will need to announce the regional bosses in creative, media and elsewhere and those choices may not be popular.
But this AI fan still manages to come across as human and that’s a start.
