What a fall, my countrymen!

YES, BUT...

- SANDEEP GOYAL

Haye O Rabba! What is happening at WPP?!

The world’s largest advertising network has just hired the world’s most famous (and expensive) consulting firm, McKinsey, to help “reset” its strategy. And almost on cue, there are media reports that say that Havas Chief Executive Officer (CEO) Yannick Bolloré has been in touch with WPP, discussing an “investment” or “consolidation”, perhaps even a buyout. Phew!

Let us start with the McKinsey hiring first. It is a clear signal that trouble at WPP is real. And consequently, the solutions being sought are not necessarily gentle. It is no longer about killing iconic agencies (JWT, Young & Rubicam, and Wunderman), merging entities (Grey into Ogilvy), or rechristening businesses (Group M to WPP Media) or just trimming headcount by 7,000-odd employees — the conflagration is mighty more serious and needs fire engines to be summoned — and that too without delay. So, McKinsey is here. And now.