WPP PLC (LON:WPP) is being replaced as the lead creative agency for automotive heavyweight Ford Motor Co. (NYSE:F) with a U.S. rival, a blow for the world’s largest advertising agency.
Ford named BBDO as its new creative lead, a decision made after Ford launched an advertising review earlier this year. BBDO’s parent company is New York City-based Omnicom Group Inc. (NYSE:OMC).
WATCH: New WPP boss Mark Read has 'work cut out' as pre-tax profit drops 6.7%
WPP had served as Ford’s lead agency for 75 years, according to Adweek magazine.
“WPP agencies continue to handle activation, including media planning and buying, digital and production,” London-based WPP said in a statement.
“These responsibilities also include Tier Two advertising work in the U.S., the China advertising operations with its joint venture partner, all Lincoln advertising, and all the Ford public relations business,” said WPP.
WPP’s Chief Executive Mark Read, who started in the role in September, said last month he would outline a new strategy for the company by the end of the year.
READ: WPP drops on margin worries after modest rise in first-half revenue; new boss to set out strategy by year-end
WPP last month posted a modest rise in underlying first-half revenue and edged up its full-year sales outlook, but margin worries put pressure on the shares.
Earlier this year, WPP founder Martin Sorrell quit after 33 years at the helm following a complaint of personal misconduct against him, which he denied.