WPP has hired the chief executive of Sainsbury’s Argos as its new chief financial officer, succeeding group finance director Paul Richardson as he retires.
John Rogers has overseen Argos’ digital transformation since 2016, following six years as chief financial officer of J Sainsbury plc. Prior to this, Rogers held senior positions including property director, director of group finance and director of corporate finance, having first joined the business in 2005.
Rogers is also currently a member of Sainsbury’s Bank plc’s board, and sits on the Retail Sector Council, which acts as a point of liaison between the UK government and retail sector.
He will join WPP and become a member of the ad network’s board in early 2020, on an annual salary of £740,000 and an annual bonus of up to 225% of salary – with mandatory deferral of 50% of his bonus into shares deferred for two years.
“I am really excited to be joining WPP as it embarks on the next stage of its evolution,” Rogers said.
“As a technology-driven business with creativity at its heart, joining WPP was an opportunity impossible to resist and I look forward to playing my part in helping the business deliver its new strategy.”
Meanwhile, Mark Read, CEO of WPP, added: “John is not only an accomplished CFO, but also a leader with extensive experience of business transformation. His priority will be to lead a finance function that best fosters investment in creativity, technology and talent in support of WPP’s new strategy for growth.
“I would like to thank Paul for his tremendous contribution over more than two decades with the company, and for his part in making WPP the world leader it is today.”
