WPP share price: Ad giant beefs up board with Microsoft UK boss

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Updated on Aug 14, 2024

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WPP (LON:WPP) has appointed the chief executive of Microsoft UK to its board, the ad giant has disclosed. The news comes after the FTSE 100 group updated investors on its full-year performance last week, saying that its 2018 had come in at the upper end of its guidance, while cautioning that it expects the current year to be challenging.

WPP’s share price has been little changed in London this morning and as of 08:57 GMT stood at 855.00p, flat in percentage terms. The stock is marginally outperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.36 percent lower at 7,104.84 points. The group’s shares have lost more than 28 percent of their value over the past year, as compared with about a 1.5-percent drop in the Footsie.

WPP beefs up board

WPP announced in a statement this morning that it had appointed Cindy Rose OBE to its board as a non-executive director. She became Microsoft UK CEO in 2016, with responsibility for the tech giant’s product, service and support offerings across the UK.

“Cindy is one of the most admired and respected figures in the technology industry, and we are delighted to welcome her to the WPP Board,” the FTSE 100 group’s chairman Roberto Quarta commented on the appointment. “Her deep understanding of the role of technology in business transformation will be invaluable as the executive team implements its new strategy for growth.”

Her appointment will be effective from 1 April 2019 and she will serve as a member of the ad giant’s Audit Committee.

Analysts on ad giant

The 24 analysts offering 12-month price targets for WPP for the Financial Times have a median target of 1,000.00p on the shares, with a high estimate of 1,520.00p and a low estimate of 800.00p. As of March 9, the consensus forecast amongst 27 polled investment analysts covering the blue-chip group advises investors to hold their position in the company.

As of 09:08 GMT, Tuesday, 12 March, WPP PLC ORD 10P share price is 855.00p.