Adam Berlin's questions to WPP (WPP) leadership • H1 2025
Question
Adam Berlin from UBS Group AG asked for clarification on why the Hogarth production unit was flat, questioned WPP Media's claim of having 'more data' than competitors, and inquired about the significant cut in staff incentives and the plan for H2.
Answer
CEO Mark Read attributed Hogarth's flat performance to client project timing issues, not AI, which he views as a future growth driver. WPP Media CEO Brian Lesser explained their data advantage stems from a federated learning model via Infosum, which accesses partner data (e.g., Google, Amazon) without centralizing it. CFO Joanne Wilson noted that H1 incentive cuts reflected performance and that full-year incentives, while expected to be down, will be reviewed to retain talent.