After what it dubs as an extensive search, WPP has appointed Roberto Quarta to its Board as a Non-Executive Director and Chairman-designate. He will join the Board on January 1, 2015 and will then be slated for re-election at the Company’s Annual General Meeting to be held in June 2015. Subject to the re-election, he will be appointed Chairman to succeed Philip Lader, who joined the Board as Chairman in 2001. Essentially this also means that Mr Quarta would be mandated to supervise the hunt for the successor of WPP’s CEO Sir Martin Sorrell.
Mr Quarta is Chairman of Smith & Nephew and Chairman of IMI. He is also a partner at the private equity firm Clayton, Dubilier & Rice and a non-executive director at Spie SA.
Earlier this year, Mr Lader announced his plan to step down as Chairman at the close of 2014 during the Company’s last Annual Report. Speaking on the appointment, he said, “Roberto brings to WPP extensive, diverse experience in corporate governance and global commerce. This completes our refreshment of the Board, which over the last three years has seen the appointment of 10 internationally recognized business leaders from four continents and the phased retirement of long-serving directors.”
Mr Sorrell commented, “Following an exhaustive search, the Board has chosen Roberto 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.”
Mr Quarta commented, “It is a great honour to join the board of WPP, a global leader in its field and an outstanding success story in British business. 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.”