I went to a lecture last night given by Sir Martin Sorrell. He outlined his view of the economic situation, WPP’s strategy and their prospects. I was impressed with his natural, jargon-free style.
He was more optimistic that I expected about general economic recovery (he probably has to be) – but not so about Western Europe’s prospects compared with emerging markets.
He explained that WPP’s strategy centres on three pillars
- Emerging markets (BRIC and next tier)
- Interactive services (websites, mobile, video, etc)
- Insight (they just bought TNS)
He also said he’d prefer if WPP wasn’t a public company – as if they’d gone with private equity, they’d be able to make longer term strategies. I guess that depends on the intention of the backers.
It was stuff I’d expected to hear, but it was good to have it confirmed.