Wunderkind trades blows with wounded WPP as ad giant's shares slump
Ajaz Ahmed, who set up ad agency AKQA as a student in 1994, told The Mail on Sunday that London-based WPP had lost its way and was 'more focused on winning awards' than winning the clients needed to compete on the world stage.
It came as one of Britain's most senior media bosses said WPP had 'lost a lot of business' and was failing to convince prospective clients of its strengths.
But insiders at WPP have hit back, saying Ahmed has 'an axe to grind'.
WPP has been beset by falling profits and the rise of artificial intelligence that threatens to make ad agencies extinct.
The firm lost its crown as the world's biggest advertising group to France's Publicis last year and its share price has fallen 44 per cent in the past 12 months. It issued a profit warning this month, citing 'continued macro uncertainty' as clients cut back on ad spending due to turmoil in the global economy.
But Ahmed said the firm's problems ran deeper, saying WPP had 'failed to deliver meaningful growth' with 'little evidence of a compelling long-term vision'.
He said: 'Its UK-centric structure feels parochial in a landscape where global growth is driven by US-based companies.' Ahmed also said WPP's attempt to get workers back into the office four days a week had 'demotivated staff and damaged trust'.
But a well-placed source at the firm said Ahmed had 'left a mess' at AKQA and this was an attempt to 'settle a score', adding: 'Lots of board members had wanted to fire him but he was protected by some senior management.'
Another insider wished Ajaz 'would move on', accusing him of making 'very generalist claims'. 'A lot of people who leave WPP have a habit of commenting on it,' the insider added, a reference to its former boss Sir Martin Sorrell, who left in 2018.
AKQA shot to fame due to its focus on the growing influence of the then-new internet advertising market. Its clients have included video streaming giant Netflix, payment firm Visa and taxi app Uber.
In 2012, WPP took control of AKQA in a deal valuing it at nearly £350 million. After more than a decade under WPP, Ahmed quit as head of AKQA in October last year and has re-emerged as the head of a new agency called Studio.One.
He is not alone in his assessment of WPP. One of the UK's most senior media executives told The Mail on Sunday the ad giant had 'lost a lot of business' to Publicis.
The source also said potential clients were confused by WPP's efforts to use AI to create cheaper and faster marketing campaigns, saying: 'It says it is investing millions. But what does that mean?'
This month, WPP said Microsoft executive Cindy Rose would replace Mark Read as chief executive at the end of the year.
A WPP spokesman said: 'Ahmed is now competing with his former employer. After two years of underperformance, AKQA is back winning business.
'WPP's AI strategy has been well received, by existing and prospective clients as demonstrated in significant extensions and wins in the past 12 months such as Amazon, Johnson & Johnson and Unilever.'
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