LONDON: WPP has appointed Roberto Quarta to succeed chairman Philip Lader and to join the board as non-executive director.
Quarta will join from media technology company Smith & Nephew, where he is chairman.
He is also chair of the engineering business IMI, a partner at private equity firm Clayton, Dubilier & Rice, and non-executive director at SPIE.
Quarta will join the board on January 1, 2015, and stand for re-election at the company's annual general meeting in June. Subject to his re-election, he would be appointed chairman.
Lader said in April at WPP’s annual report that he planned to step down at the end of this year. He has served as chairman for the past 14 years.
"Following an exhaustive search, the board has chosen [Quarta] to be its next chairman, as his experience and background complement and will help develop WPP's strategy in new markets, in new media, in data investment management, and the application of technology, and, last but not least, horizontality," said WPP CEO Martin Sorrell in a statement.
"It is a great honor to join the board of WPP, a global leader in its field and an outstanding success story in British business," Quarta said in a statement. "I look forward to working with the board to help the company as it continues to build leadership positions in the fast-changing media markets."
In October, WPP posted a year-on-year revenue increase of 3.1% to about $4.4 billion in the third quarter of 2014. The holding company blamed the slower-than-expected results on a strong UK pound and weak currencies in faster-growth markets.
However, its PR firms struggled in the quarter, achieving 0.1% organic revenue growth. WPP owns and operates Burson-Marsteller, Hill+Knowlton Strategies, and Ogilvy Public Relations, among others.
This story first appeared on Campaign.
