WPP appoints IMI chairman as Lader replacement

Advertising and media giant WPP has named a successor to Philip Lader who announced his plan to step down as long-running chairman earlier this year.

The company said it has appointed Roberto Quarta as a non-executive director and chairman-designate, who will offer himself for re-election at a shareholder meeting next June.

Quarta is currently the chairman of Smith & Nephew and IMI, and has previously held executive positions at numerous listed companies such as BBA, BAE Systems and Foster Wheeler.

Lader, who joined the board as chairman in 2001, announced his retirement back in April and had planned to step down at the end of the year. He has now agreed to continue until Quarta steps down as chairman of IMI, where he has been since 2011.

"Roberto brings to WPP extensive, diverse experience in corporate governance and global commerce,” Lader said in a statement.

“This completes our refreshment of the Board, which over the last three years has seen the appointment of 10 internationally recognised business leaders from four continents and the phased retirement of long-serving directors."

IMI, meanwhile, said it has started an external search for Quarta’s replacement.

"Roberto has made a significant contribution to IMI. He has overseen a period of much change as a result of which the group is now well positioned for long term growth,” said IMI director Anita Frew.