Jens Monsees has stepped down as chief executive officer of WPP AUNZ, just 20 months after he took up the role. His decision follows the completion, on Tuesday 18 May 2021, of a Scheme of Arrangement that made WPP the sole shareholder of WPP AUNZ, which was subsequently delisted from the Australian Securities Exchange.
Monsees, formerly of German automobile maker BWW, was appointed CEO of WPP AUNZ in October 2019 and through the pandemic has tried to stabilise WPP's regional business. His departure caps a series of top level exits for WPP AUNZ. Back in February 2020, he had initiated a three-year plan to try and try to fix WPP AUNZ's finances.
A new WPP leader will be appointed and in the interim the business will be led by the agency brand leaders, supported by WPP AUNZ chief financial officer Chris Rollinson and other members of the central team, through an executive committee chaired by WPP chief operating officer Andrew Scott, the network announced.
Mark Read, Chief Executive Officer of WPP, said: “Despite the unprecedented challenges of the COVID-19 pandemic, he has delivered significant progress in transforming WPP’s business in Australia and New Zealand, which is very well positioned for the future."
Monsees noted that "the strategic progress we accomplished and the strong financial turnaround we achieved are testament to the great collaboration of our people across the business and their ongoing commitment to serving our clients."
Australia and New Zealand represent one of WPP’s largest markets worldwide, with revenues of almost $500 million and 3,800 people employed by its global agency networks.