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WPP appoints Roberto Quarta as chairman-designate
MUMBAI: WPP plc has appointed Roberto Quarta to its board as a non-executive director and chairman-designate. He will join the board on 1 January 2015 and will offer himself for re-election at the company’s Annual General Meeting to be held in June 2015. Subject to his re-election, he will be appointed chairman to succeed Philip Lader, who joined the board as chairman in 2001.
Quarta is chairman of Smith & Nephew plc, a FTSE 100 global medical technology company, and chairman of IMI plc, a FTSE 250 engineering business. He is also a partner at the private equity firm Clayton, Dubilier & Rice and a non-executive director at Spie SA. Previously, he was chief executive and then chairman of BBA Group plc, Rexel SA chairman and BAE Systems plc, Equant NV, Foster Wheeler AG and PowerGen plc non-executive director.
In the Company’s last Annual Report issued in April 2014, Lader announced his plan to step down as chairman at the close of 2014. The WPP board has requested that he continue until such time as Quarta steps down as Chairman of IMI plc.
Lader 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.”
CEO Sir Martin 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.”
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.”
No disclosure obligations arise under paragraphs (1) to (6) of LR 9.6.13 R of the UK Listing Authority’s Listing Rules in respect of this appointment.
Full details of Quarta’s remuneration arrangements will be given in the Directors’ Remuneration Report 2014.
The transition in the chairman’s role will occur, if Quarta has resigned from the IMI board as anticipated, immediately at the close of WPP’s June AGM or thereafter upon such resignation.
Quarta will be appointed to serve as a member of the Nomination and Governance Committee and the Compensation Committee.
In the 14-year period Lader has served as chairman, WPP’s billings have grown from ?14 billion to ?46.2 billion, PBIT from ?378 million to ?1.583 billion, dividend per share from 3.75p to 34.21p, the dividend pay-out ratio from 13 per cent to 42 per cent. The shares have risen from 829p to 1313p, the market capitalisation from ?9.1 billion to ?17.3 billion and the number of employees (including associates) from 65,000 to 177,000.
MAM
VIDA partners with Kolkata Knight Riders, gifts SRK limited-edition electric scooter
Bollywood superstar receives custom DIRT.E K3 Knight Edition as symbol of collaboration.
MUMBAI: Shah Rukh Khan just got a new ride that’s truly fit for a King and it comes with a serious green twist. Electric two-wheeler brand VIDA has teamed up with Kolkata Knight Riders for the upcoming cricket season and marked the partnership by presenting a limited-edition DIRT.E K3 – the Knight Edition – to the team’s co-owner and global icon, Shah Rukh Khan.
The custom scooter symbolises the coming together of two brands that stand for aspiration, confidence, and a progressive, sustainable future. VIDA and KKR aim to engage with a generation that is bold in its choices and ready to drive meaningful change.
The sleek, knight-themed DIRT.E K3 was specially designed to reflect the spirit of the partnership, blending performance with eco-conscious mobility.
This collaboration highlights VIDA’s growing presence in the electric mobility space while leveraging the massive reach and emotional connect of the Kolkata Knight Riders franchise and its charismatic leader.
In a world where style meets sustainability, VIDA and KKR have found the perfect match. With Shah Rukh Khan now officially riding for the Knight Riders off the field as well, this partnership promises to be anything but ordinary. Expect the roads and the stands to get a lot more stylish and a lot more electric.
