WPP brings on McKinsey as profit warnings spur strategic overhaul

WPP has appointed global consulting firm McKinsey & Company to assist with its ongoing strategic review, as the advertising giant faces increasing investor pressure following two profit warnings within three months, according to media reports.

The review, led by Chief Executive Cindy Rose, aims to reset the company’s direction after what she described as ‘unacceptable’ performance. The agency’s annual revenue is projected to decline by between 5.5% and 6% in 2025.

Rose, who succeeded Mark Read on September 1, told shareholders during the company’s Q3 earnings call in October that details of the new strategy will be revealed in early 2026.

According to a report, the consulting firm’s role is to ‘facilitate and stress-test’ the planning of this refreshed strategy. The review will reportedly focus on simplifying and integrating client offerings, using AI to drive growth and measurable outcomes, expanding technology and enterprise services, and improving financial performance through operational efficiency and stricter capital allocation.

This marks a renewed collaboration between the agency and the consulting firm, as the firm had previously advised the group in 2020.

The review follows several internal changes at the agency, including the 2023 merger of Wunderman Thompson and VMLY&R to form VML and the 2025 rebranding of GroupM as WPP Media.