WPP to Discontinue Operations in Russia

The Board of marcoms giant WPP has condemned the Russian invasion of Ukraine and announced it is discontinuing operations in Russia, where it employs nearly 1,400 people.

In a statement, the marcoms giant said: 'WPP stands with Ukraine and the international community in condemning the Russian invasion, which has created a humanitarian crisis in the heart of Europe. The Board of WPP has concluded that WPP's ongoing presence in Russia would be inconsistent with our values as a company, and we are therefore discontinuing our operations in the country'. It thanked its Russian employees, describing them as dedicated and valued members of its organization, adding: 'We deeply regret the impact of this decision on our Russian colleagues. We will provide support to them and work closely with our clients and partners as we discontinue our activities in the country'.

WPP employs 200 people in Ukraine, and says they have shown 'extraordinary resilience and bravery' in the face of the attack on their country. The group added: 'We are in constant contact with our leaders in Ukraine to provide financial and other forms of practical assistance for our employees'.

In 2019, WPP sold 60% of its Kantar data, research, consulting and analytics business to private equity firm Bain Capital, but retained a stake in the business. Kantar has a base in Moscow and covers all of Russia, Kazakhstan and neighbouring countries through its network of fieldwork agencies. Its intention as regards Russian operations is not known to DRNO at this point.

Web site: www.wpp.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.