WPP confirmed Wednesday that Roberto Quarta has been appointed to its board of directors as a non-executive director and chairman-designate.
Quarta is currently chairman of UK medicial technology company Smith & Nephew. He is also a partner in the private equity firm Clayton, Dubilier & Rice. And he is chairman of engineering firm IMI, a post he will resign upon his expected election as WPP chairman next year. Previously he was chairman and CEO of aviation company BBA Group.
Quarta will join the WPP Board on Jan. 1, 2015 and will be a nominee for re-election at the Company’s Annual General Meeting to be held in June of next year. Subject to his re-election, he will be appointed chairman to succeed Philip Lader, who earlier said he would step down after more than a decade of board service. Lader has served as chairman of the company since 2001.
WPP CEO Martin Sorrell said: “Following an exhaustive search, the Board has chosen Roberto to be its next chairman, as his experience and background complement and will help develop WPP's strategy in new markets, in new media, in data investment management and the application of technology and last but not least, horizontality.”
Added Lader: “Roberto brings to WPP extensive, diverse experience in corporate governance and global commerce. This completes our refreshment of the Board, which over the last three years has seen the appointment of 10 internationally recognized business leaders from four continents and the phased retirement of long-serving directors.”
The holding company said that in addition to serving as chairman, Quarta would be appointed to serve as a member of the Nomination and Governance Committee and the Compensation Committee.