WPP PLC WPP shares sank 18.76% to £4.29 Wednesday, on what proved to be an all-around favorable trading session for the stock market, with the FTSE 100 Index UKX rising 0.15% to 8,867.02. WPP PLC closed 52.

WPP sent jitters across Madison Avenue with an unexpected profit warning Wednesday. The threat of AI isn't helping.

Like-for-like revenues (excluding pass through costs) are expected to drop between 3% and 5%, the FTSE 100 advertising giant said.

WPP PLC closed 41.57% below its 52-week high of £9.03, which the company achieved on December 9th.

European stocks rose for a third day, with banks leading gains on the back of a rally in UniCredit SpA, while advertising group WPP Plc sank 15% after it tempered its revenue outlook.

WPP’s next chapter will be written by Cindy Rose, the seasoned Microsoft executive and long-time WPP board member who steps into the CEO role at a time of major upheaval.

WPP (LON: WPP) appoints NED as CEO. Having got its profit warning off its chest yesterday, WPP PLC (LSE:WPP) has appointed Microsoft (NASDAQ: MSFT) executive Cindy Rose as

Shares in London-based advertising giant WPP plunged 18%, stoking anxiety about the ad business as it battles economic jitters and the rise of AI.