WPP Appoints John Rogers as Chief Financial Officer
October 01 2019 - 7:00AM
Business Wire
WPP (NYSE:WPP) today announces the appointment of John Rogers as
Chief Financial Officer.
John is currently Chief Executive Officer of Sainsbury’s Argos,
where he has overseen the digital transformation of one of the UK’s
leading technology-driven businesses. Today around 65 percent of
the company’s sales are online, via the UK’s third most visited
retail website.
He was Chief Financial Officer of J Sainsbury plc from 2010 to
2016, responsible for business strategy, new business development,
Sainsbury’s Online, operational efficiency and Sainsbury’s Bank, in
addition to core finance functions.
Previous roles with J Sainsbury plc include Property Director,
Director of Group Finance and Director of Corporate Finance. He was
Group Finance Director of Hanover Acceptances Ltd and has held
senior positions with Monitor Company (now Deloitte) and Arthur
Andersen.
John has worked in China, India, Japan, South Africa and the
USA, and throughout Europe. He is a member of the Sainsbury’s Bank
plc board, a non-executive director of Travis Perkins plc and a
member of The Prince’s Accounting for Sustainability Advisory
Council. He also sits on the Retail Sector Council, which acts as a
point of liaison between the UK Government and retail sector.
John will join WPP in early 2020, when he will also become a
member of the Board. He succeeds Group Finance Director Paul
Richardson, who as previously announced is retiring from the
company.
Commenting on the appointment, Mark Read, CEO of WPP,
said: “John is not only an accomplished CFO, but also a leader
with extensive experience of business transformation. His priority
will be to lead a finance function that best fosters investment in
creativity, technology and talent in support of WPP’s new strategy
for growth.
“I would like to thank Paul for his tremendous contribution over
more than two decades with the company, and for his part in making
WPP the world leader it is today.”
John Rogers said: “I am really excited to be joining WPP
as it embarks on the next stage of its evolution. As a
technology-driven business with creativity at its heart, joining
WPP was an opportunity impossible to resist and I look forward to
playing my part in helping the business deliver its new
strategy.”
Remuneration
John Rogers will be paid in accordance with the Compensation
Policy approved by share owners on 7 June 2017, as set out in the
2016 Annual Report.
- Annual salary of £740,000.
- Annual bonus of up to 225% of salary with mandatory deferral of
at least 50% of bonus into shares deferred for a two-year
period.
- LTIP award of 300% of salary. Performance will be measured over
a five-year period using measures in line with our Compensation
Policy.
- A cash allowance of 10% of salary in lieu of pension.
- A benefits allowance of £30,000 per annum to cover health, risk
and other benefits.
- Compensation of equivalent value and form for share-based and
cash incentives that will be forfeited on his departure from
Sainsbury’s.
His contract of employment contains restrictive covenants
including an industry non-compete, a non-deal with clients and a
non-poach and non-employ of key WPP individuals.
This announcement contains inside information.
The person responsible for arranging the release of this
announcement on behalf of WPP is Marie Capes, Company
Secretary.
About WPP
WPP is a creative transformation company. We build better
futures for our clients through an integrated offer of
communications, experience, commerce and technology. For more
information visit www.wpp.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191001005616/en/
Media Chris Wade, WPP +44 (0)20 7282 4600 Richard
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Investors and analysts Peregrine Riviere +44 (0)7909
907193 Lisa Hau +44 (0)7824 496015 Fran Butera (US) +1 914 484
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