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Loss of Ford business a setback for WPP
Ford’s move sends a warning signal to WPP managers as they gather for their annual strategy get-together
London - WPP’s reputation has been bruised after Ford Motor, one of its biggest and oldest clients, transferred advertising business worth hundreds of millions of dollars to rival Omnicom Group. The decision ends a 75-year partnership between Ford and creative house J Walter Thompson, acquired by London-based WPP in 1987, which has made adverts for the carmaker since the end of World War 2. The loss is a setback for new WPP CEO Mark Read, who succeeded the company’s founder, Martin Sorrell, in September. Ford’s move sends a warning signal to WPP managers as they gather for their annual strategy get-together this week. Read is looking to revive WPP, whose shares have declined 18% this year as Madison Avenue faces declining advertising spending from top clients and fresh competition from consultants such as Accenture and Deloitte. WPP has a dedicated agency, Global Team Blue, located opposite Ford’s Michigan headquarters that handles the account. WPP agencies will continue to handle m...
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