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The world’s largest holding group is set to abandon its small, quaint space in London’s West End.
The move comes more than three decades after WPP officially set up shop at 27 Farm Street, Mayfair, and four months after the abrupt departure of CEO and chairman Martin Sorrell.
WPP spokesperson confirmed the news accuracy, but declined to elaborate. Co-COOs Mark Read and Andrew Scott, who have been running the network since Sorrell officially resigned in April, made the announcement in a memo that went out to a small group of U.K.-based leaders within the network earlier today.
According to the note, Read and Scott want to choose a more modern location for WPP in the interest of both aesthetics and operational efficiency. While the two do not reportedly have a final destination chosen, they plan to relocate the small team of executives that had worked out of 27 Farm Street to Sea Containers, the modern complex on London’s South Bank that has been home to Ogilvy U.K. since 2016.
Reportedly, now-former CEO Martin Sorrell was very fond of Farm Street address, and although that may anot have been a key factor in the decision, it inspired observers to speculate about WPP looking to move beyond the Sorrell era.