LONDON – Britain’s WPP, the world’s biggest advertising group, said on Friday it would discontinue its operations in Russia, saying its continued presence in the country would be “inconsistent” with its values.
“WPP stands with Ukraine and the international community in condemning the Russian invasion, which has created a humanitarian crisis in the heart of Europe,” the company, which employs nearly 1,400 in Russia, said.
“The Board of WPP has concluded that WPP‘s ongoing presence in Russia would be inconsistent with our values as a company, and we are therefore discontinuing our operations in the country.”
It said it “deeply regretted” the impact of the decision on its Russian staff, and it would support them, as well as working closely with clients and partners, as it withdrew from the country.
Russia is a relatively small part of WPP‘s global operations, representing 0.6% of revenue less pass-through costs in 2021.