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| Cindy Rose |
WPP CEO Cindy Rose has retained Goldman Sachs to explore strategic options regarding its Burson PR flagship, according to a report in the London Times.
A divestiture would all but complete WPP’s retreat from its PR business, which suffered a six percent decline in revenues during the past year.
Rose is in the midst of an Elevate28 survival plan that calls for getting rid of non-core businesses to simplify operations.
WPP sold FGS Global, which had an enterprise value of $1.7B, to KKR in 2024.
The sale of Burson, which employs 6,000 people, would mark the first major disposal engineered by Rose, who took over the helm from Mark Read last Sept. 1.
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."
