MAM
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.
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
