Singapore – WPP is reportedly in talks with advisers to sell off Burson, the holding company’s public relations (PR) arm, according to a report by The Times.
In the report, it noted that advisers at Goldman Sachs are exploring strategic options for Burson, which could pave the way for an eventual sale.
Moreover, a sale would mark a near-complete exit from PR for WPP, which sold its majority stake in FGS Global to KKR, the private equity firm, which valued the City communications firm at £1.3 billion.
WPP has declined to comment on this when MARKETECH APAC reached out to them.
News about the reported sale of Burson are not new, with the Financial Times previously reporting earlier this year about early talks on internally discussing asset sales as it looks to streamline operations and sharpen its strategic focus.
Many of these industry speculations are related to a massive shift in WPP, evident by its ‘Elevate28’ plan, which involves a bold restructuring plan to dismantle its holding company model, deliver £500m in cost savings and rebuild growth through a fully integrated, AI-enabled operating structure.
Moreover, the multi-year strategic plan represents the most significant structural shift at WPP in decades. At its core is a move away from a traditional holding company model to operate as a single, unified company designed to simplify decision-making, integrate capabilities and improve execution.
Recently, WPP has appointed Anne‑Isabelle Choueiri, formerly of The Estée Lauder Companies, as Chief Transformation Officer, a newly created role aimed at driving the company’s Elevate28 strategy.
