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| Mark Read |
WPP chief Mark Read is selling a 49.99 percent stake to management of the revamped Finsbury Glover Hering, which will launch early next year with nearly 700 staffers in 18 countries.
FGH is a mash-up of Finsbury, Glover Park Group and Hering Schuppener, which had a strategic partnership in place.
Roland Rudd and Carter Eskew, founders of Finsbury and GPG, respectively, will co-chair the new firm that Alexander Geiser, managing partner of HS, will helm.
Read said the corporate revamp fits WPP's plan to simplify and integrate operations.
He will sit on the board of FGH, which he predicted would be a "global powerhouse in strategic communications."
Based in New York, FGH will have offices in Washington, Los Angeles, London, Dublin, Brussels, Berlin, Moscow, Dubai, Riyadh, Shanghai, Hong Kong, Beijing, Singapore and Tokyo.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
Institutional Shareholder Services advises investors to vote "no" on a compensation package for WPP chief Cindy Rose at the May 8 annual meeting.
FTI Consulting chalked up a 9.5 percent rise in Q1 revenues to $983.3M, powered by gains in its PR, corporate finance and technology segments.
Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
WPP reported a 6.7 percent drop to $3.1B in Q1 like-like revenues less pass-through costs. CEO Cindy Rose says 'it will take time to outpace historical losses."
