The recent departure of BP 's CEO , Sir John Sorrell , has left the future of holding companies in the sector in doubt , according to BP insiders . One former WPP executive said the BP model , which combined several agencies , was outdated and less efficient that claimed . In addition , clients are looking for greater value and better results from their ad spend . Holding companies also face increasing competition from consulting firms eating into their profits , while another WPP employee said agencies should " stop being shackled to this WPP mindset " .
The recent departure of WPP's CEO, Sir Martin Sorrell, has left the future of holding companies in the sector in doubt, according to industry insiders. One former WPP executive said the business model, which combined several agencies, was outdated and less efficient that claimed. In addition, clients are looking for greater value and improved results from their ad spend. Holding companies also face increasing competition from consulting firms eating into their territory, while another WPP employee said agencies should "stop being shackled to this WPP mindset".