WPP (LSE/NYSE: WPP) today announced that Chief Financial Officer John Rogers has decided to step down from the company.
John has made a significant contribution to WPP in his three years in the role, has successfully led the first important stages of its transformation programme and is now looking to pursue broader executive opportunities outside the company. The Board has agreed that he will step down as Chief Financial Officer and as an Executive Director of the Board following the finalisation of the 2022 Annual Report & Accounts next year.
The Board has appointed Joanne Wilson to succeed John as Chief Financial Officer. Joanne is currently Chief Financial Officer at Britvic plc (LSE: BVIC), the UK-listed international soft drinks company.
Prior to Britvic Joanne had a successful career at Tesco where she gained extensive experience both in the UK and internationally in a variety of financial and commercial roles. These included Chief Financial Officer of dunnhumby, a global leader in customer data science that is part of the Tesco group. Joanne began her career at KPMG, where she qualified as a Chartered Accountant and spent three years in Hong Kong. She is currently a non-executive director of Informa plc (LSE:INF). Joanne is the chair of Britvic's ESG Committee.
It is expected that Joanne will join WPP in the first half of 2023. To ensure a smooth transition, John will remain available until later next year.
Mark Read, Chief Executive Officer of WPP, said: 'I would like to thank John for his leadership and for his contribution to WPP over the last three years. During that time he has led the reorganisation of our finance function, helped the company navigate the financial challenges of the pandemic and laid the foundation for our transformation programme. He leaves WPP with our best wishes for the future.
'Joanne is a highly regarded CFO and leader. Beyond her financial credentials, her extensive experience in data, retail and ESG is especially valuable given their importance to our business and our client base. We look forward to welcoming her to WPP next year.'
John Rogers said: 'It has been a privilege to work alongside Mark, the Board and the executive team to deliver our transformation plan and growth strategy, and I am very proud of what we have achieved together over the last three years.
'With WPP well positioned for ongoing success, and as the company enters the next phase of its transformation, I feel now is the right time to move on to new challenges and to begin a smooth transition to a new CFO. I look forward to working with Joanne on the handover next year.'
Joanne Wilson said: 'I am delighted to be joining Mark and the team as they continue on their journey to make WPP the most creative company globally. It's a fantastic opportunity and I look forward to working with the wider WPP team to continue to successfully execute the growth strategy and deliver the company's transformation programme.'
Notes to Editors
No further disclosure obligations arise under paragraphs (1) to (6) of LR 9.6.13 R of the UK Listing Authority's Listing Rules in respect of this change.
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014.
The person responsible for arranging the release of this announcement on behalf of WPP is Balbir Kelly-Bisla, Company Secretary.
Joanne Wilson's remuneration arrangements
The Compensation Committee considered the remuneration arrangements for Joanne Wilson and agreed that her remuneration should be set broadly in line with the current CFO's remuneration as set out below. Joanne will be paid in accordance with the Directors' Compensation Policy ('the Policy') approved by shareholders on 10 June 2020 as set out in the 2019 Annual Report.
Contact:
Caitlin Holt
Tel: +44 7392 280178
About WPP
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