Rapport annuel 2023 et avis d'AGA
Motorola Solutions Inc
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16:30 19/03/24
POUR DIFFUSION IMMÉDIATE | 21 Mars 2024 |
WPP PLC ("WPP" ou "la Société")
Publication du rapport annuel 2023, du rapport de développement durable et de l'avis de convocation à l'assemblée générale annuelle 2024
WPP has today published on its website its Annual Report for the year ended 31 December 2023 ('Annual Report 2023', https://www.wpp.com/annualreport2023) accompagné de son rapport de développement durable. WPP a également publié aujourd'hui son avis de convocation à l'assemblée générale annuelle 2024 (l'« Avis de l'AGA 2024 », www.wpp.com/investors/shareholder-centre/shareholder-meetings), qui sera distribué prochainement aux actionnaires.
L'AGA de la Société se tiendra le 8 mai 2024 à 11.00h2 à Rose Court, 1 Southwark Bridge Road, Londres SE9 XNUMXHS, avec des installations permettant de suivre virtuellement les affaires de l'AGA.
Conformément au 9.6.1 du Règlement de Cotation, des exemplaires du rapport annuel 2023 et Avis de l’AGA 2024 will be submitted to the UK Listing Authority and will shortly be available for inspection at the National Storage Mechanism https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Une version papier du Rapport Annuel 2023 sera envoyée aux actionnaires qui ont choisi de recevoir des communications papier vers le 4 avril 2024.
Les informations incluses dans l'annonce des résultats préliminaires non audités publiée le 22 février 2024, ainsi que les informations contenues dans les annexes de cette annonce qui sont extraites du rapport annuel 2023, constituent les éléments requis par les directives de divulgation et la règle de transparence 6.3.5R de la FCA. Cette annonce ne remplace pas la lecture intégrale du rapport annuel 2023. Les références aux pages et aux notes dans les annexes ci-dessous font référence aux références aux pages et aux notes dans le rapport annuel 2023.
Balbir Kelly-Bisla
Secrétaire de la Société
Pour en savoir plus
Chris Wade, WPP Richard Oldworth, Communication Buchanan | + 44 (0) 20 7282 4600 + 44 (0) 20 7466 5000 |
À propos de WPP
WPP est l'entreprise de transformation créative. Nous utilisons le pouvoir de la créativité pour construire un avenir meilleur pour nos collaborateurs, notre planète, nos clients et nos communautés. Pour plus d'informations, visitez www.wpp.com.
ANNEXE A : PRINCIPAUX RISQUES ET INCERTITUDES
The Board has carried out a robust assessment of the principal risks and uncertainties affecting the Group and the markets we operate in and strategic decisions taken by the Board as at 31 December 2023 and up to the date of this report - including any adverse effects of the geopolitical situation resulting from the conflicts in Ukraine and Gaza - which are described in the table on the following pages.
RISQUE ÉCONOMIQUE
Définition du risque
Adverse economic conditions, including those caused by the conflicts in Ukraine and Gaza, severe and sustained inflation in key markets where we operate, supply chain issues including around resilience affecting the distribution of our clients' products and/or disruption in credit markets, pose a risk our clients may reduce, suspend or cancel spend with us or be unable to satisfy obligations.
Impact potentiel
Les conditions économiques, notamment l’inflation et la hausse des taux d’intérêt, ont une incidence directe sur nos activités, nos résultats d’exploitation et notre situation financière.
Dans le passé, les clients ont réagi à la faiblesse des conditions économiques et financières en réduisant ou en modifiant leurs budgets marketing, qui sont plus faciles à réduire à court terme que leurs autres dépenses d'exploitation.
Comment il est géré et reflété dans nos priorités stratégiques
Nos équipes de comptes travaillent de manière proactive avec nos clients pour comprendre les défis auxquels ils sont confrontés, déterminer les tendances générales des dépenses marketing et élaborer des plans à l'avance pour nous aider à préparer, redéployer les ressources et gérer les coûts en conséquence.
Our crisis management and business resilience team works with our networks to identify priority services and the key dependencies they rely on and develops market-specific incident response and service continuity plans to best ensure business operations are resilient to external factors.
Notre portefeuille de clients est diversifié et composé d'organisations opérant dans différents secteurs industriels et sur une large répartition géographique, ce qui contribue à atténuer l'impact des défis spécifiques auxquels certains clients ou marchés pourraient être confrontés.
RISQUE GÉOPOLITIQUE
Définition du risque
Growing geopolitical tension and conflicts continue to have a destabilising effect in our markets and across geographical regions. This rise in geopolitical activity continues to have an adverse effect upon the economic outlook, the general erosion of trust and an increasing trend of national ideology and regional convergence over global cooperation and integration. Such factors and economic conditions may be reflected in our clients' confidence in making longer-term investments and commitments in marketing spend.
Impact potentiel
Les tensions et conflits géopolitiques réels ou menacés entraînent une plus grande incertitude, une instabilité économique et un manque général de confiance pour nombre de nos clients qui sont enclins à réduire, retarder ou annuler leurs plans et budgets marketing.
Comment il est géré et reflété dans nos priorités stratégiques
Nous travaillons en étroite collaboration avec nos équipes nationales, des conseillers tiers, des clients et d'autres agences pour surveiller le niveau et la nature des problèmes, événements et développements géopolitiques sur tous les marchés et régions.
Our primary focus is the safety and security of our people, and for extreme events or periods of disruption we have developed a series of crisis and response plans with clear lines of escalation to the Board and Executive Committee that focus upon the wellbeing of our people and their families.
We have detailed operational and financial plans, developed through the consideration of a range of potential scenarios and outcomes that are continuously monitored and, if required, used to make interventions and support decision-making over our operations, investments and advice to clients.
PANDÉMIE
Définition du risque
L'impact d'une pandémie sur nos activités dépendra de nombreux facteurs que nous ne sommes pas en mesure de prévoir avec précision, notamment la durée et l'ampleur d'une pandémie, les variants existants ou nouveaux, les mesures gouvernementales visant à atténuer les effets d'une pandémie et la persistance et la l'impact à long terme d'une pandémie sur les plans de dépenses de nos clients.
Impact potentiel
Une pandémie et tout nouveau variant ainsi que les mesures visant à contenir sa propagation pourraient avoir un effet défavorable sur nos activités, nos revenus, nos résultats d’exploitation, notre situation financière et nos perspectives.
Comment il est géré et reflété dans nos priorités stratégiques
A strong balance sheet, supported further by action to maintain liquidity including, if needed, the suspension of share buybacks, dividends and acquisitions, cost reduction and cash conservation measures, savings on property and IT capex.
Constant monitoring of working capital position and detailed operational and financial plans, developed from previous experience and, as noted above, continuously assessed against potential scenarios and outcomes.
PLAN STRATÉGIQUE
Définition du risque
The failure to successfully complete the strategic plan updated in January 2024 to lead through AI, data and technology, to accelerate growth through the power of creative transformation, to build world-class, market-leading brands and to execute efficiently to drive financial returns through margin and cash.
Impact potentiel
A failure or delay in implementing or realising the benefits from the strategic plan may have a material adverse effect on our market share and our business, revenues, results of operations, financial condition or prospects.
Comment il est géré et reflété dans nos priorités stratégiques
Board oversight of the implementation of the strategic plan and Group simplification and regular briefings on the Group's response to economic and geopolitical risks.
The Executive Committee regularly reviews progress against the strategic plan and actions required to deliver against the plan and convenes regularly to discuss the Group's response to and implementation of the measures highlighted above to mitigate the impact of economic and geopolitical risks on the Group's operations, people, clients and financial condition.
The focus on managing cost and changes in ways of working have accelerated aspects of the strategic plan as we continue to move towards a simplified company structure and enhanced use of technology, including generative AI, by our people.
GENERATIVE AI STRATEGY
Définition du risque
Delayed adoption and leverage of the opportunities and commercial models offered by generative AI in the services WPP provides to its clients, as well as the overall operation of the business.
WPP may incur costs when ensuring it can comply with the introduction of artificial intelligence laws and regulations, including the EU AI Act. This will be through review of IT systems and processes, which may require refinement or amendment, to ensure regulation can be adhered to.
IP laws and in particular the analysis of copyright infringement is evolving in generative AI. Where AI is used in client deliverables, IP infringement risk, in particular copyright infringement risk, must be assessed in the context of the underlying data sets used in the creation of client works.
Impact potentiel
Without the automation and efficiency gains offered by generative AI, we may experience increased costs and inefficiencies in our operations impacting profitability and competitiveness.
Clients will increasingly expect us to use generative AI-driven tools and technologies in our services and deliverables. If we fail to adopt generative AI at pace and evolve our commercial model, we may struggle to keep up with these demands, leading to decreased relevance and effectiveness of our services and deliverables for clients, and allow an opportunity for AI vendors to contract directly with our clients.
Falling behind competitors leveraging the opportunities generative AI offers to gain a competitive advantage could result in lost market share, decreased revenue and reduced profitability.
We may struggle to attract and retain talent, further hindering our ability to innovate and compete.
Generated materials may infringe third-party IP resulting in legal costs and client reputation impact.
Comment il est géré et reflété dans nos priorités stratégiques
The Chief AI Officer is responsible for the strategic direction of generative AI in the business.
We have established a Generative AI Governance Committee which oversees the application and adoption of and risks associated with generative AI across WPP. This committee includes the CEO, CTO and Chief Privacy Officer and other senior stakeholders in the business with responsibility for the safe and responsible use of generative AI within the Group.
We have developed and continue to invest in a WPP generative AI platform using market-leading technologies which is available to all staff in order to support our work and deliverables both internally and for clients.
We have established partnerships with leading generative AI platforms, technologies and companies, including NVIDIA.
We actively monitor the changing regulatory landscape and the introduction of new laws regulating AI to assess the impact on our business and work, including detailed review of the EU AI Act and evolving IP laws (including copyright), and how they will impact how we service our clients.
We have a comprehensive due diligence process in place to review the third-party generative AI tools/platforms used in the business. This process considers the use case for the tool/platform and includes reviews of the security, legal and technology aspects of the tool/platform as well as sources of underlying learning data, where applicable, to develop a 'traffic light' approach to risk.
Whilst AI provides many opportunities (including efficiencies and new services and offerings) we also continue to review and consider the impact around our business model through the Generative AI Governance Committee, reporting to the Board and Audit Committee on identified risks and impacts.
INFORMATIQUE ET SYSTÈMES
Définition du risque
We continue to undertake a series of IT programmes devised to prioritise the most critical changes necessary to support the Group's strategic plan whilst maintaining the operational performance and security of core systems.
Le Groupe dépend de tiers pour l’exécution d’une partie importante de nos fonctions informatiques et opérationnelles mondiales.
Le fait de ne pas assurer ces fonctions pourrait avoir un effet négatif sur notre activité.
Impact potentiel
Any failure or delay in implementing the IT programmes may have a material adverse effect upon the overall strategic plan and the realisation of key targeted benefits and savings.
Disruption and unavailability of critical systems may lead to disruption in our operations and client service delivery.
Comment il est géré et reflété dans nos priorités stratégiques
The Board and management team provide oversight and governance of the most important IT and systems change initiatives the business is pursuing.
Detailed plans have been prepared for each major systems initiative and overall progress, challenges and risks are monitored as part of our project management processes and discussed in dedicated steering committees who also agree upon any corrective action that may be required, including around supplier resilience.
Des rapports d'avancement sont également rédigés dans le cadre des séances d'information régulières que le Conseil reçoit sur la mise en œuvre globale du plan stratégique.
PERTE DE CLIENTS
Définition du risque
We compete for clients in a highly competitive industry which is continuously evolving and undergoing structural change and advancements in AI, data and technology. Client net loss to competitors or as a consequence of client consolidation, insolvency or a reduction in marketing budgets due to a geopolitical change or shift in client spending, would have a material adverse effect on our market share, business, revenues, results of operations, financial condition and prospects.
Impact potentiel
The competitive landscape in our industry is constantly evolving and the role of more traditional services and operators in our sector who have not successfully diversified is being challenged. Competitors include multinational advertising and marketing communication groups, marketing services companies, database marketing information and measurement and professional services, and consultants and consulting internet companies.
Les contrats des clients peuvent généralement être résiliés moyennant un préavis de 90 jours ou sont sur une base de cession et les clients soumettent leur entreprise à un examen concurrentiel de temps à autre.
The ability to attract new clients and to retain or increase the amount of work from existing clients may be impacted if we fail to react quickly enough to changes in the market and to evolve our structure, as a consequence of any loss of reputation, and may be limited by clients' policies on conflicts of interest.
Comment il est géré et reflété dans nos priorités stratégiques
The strategic plan updated in January 2024 places emphasis on leading through AI, data and technology, accelerating growth through the power of creative transformation, building world- class, market-leading brands and executing efficiently to drive financial returns through margin and cash.
The plan is also delivering a continued simplification of our organisational structure by reducing the number of legal entities in the Group, the disposal of non-core minority holdings and more collaborative working through the opening of further campus co-locations (see page 19).
The Board is focused on the importance of a positive and inclusive culture across our business to attract and retain talent and clients. Accordingly, work continues on diversity and inclusion across the Group, including focus from the work of the global WPP Inclusion Council.
Amélioration continue de notre capacité créative et de la réputation de nos entreprises. L’élaboration et la mise en œuvre d’incitations pour la haute direction afin de s’aligner plus étroitement sur notre stratégie et nos performances.
Business review at every Board, Executive Committee and network management meeting to identify client loss. Monthly updates to the executive management team on the status of the Group's major clients and upcoming pitches for potential new clients.
Engagement continu avec nos clients et fournisseurs pendant cette période d’incertitude et de réduction de l’activité économique.
CONCENTRATION CLIENTÈLE
Définition du risque
We receive a significant portion of our revenues from a limited number of large clients and the net loss of one or more of these clients or of a major assignment with them could have a material adverse effect on our prospects, business, financial condition and results of operations.
Impact potentiel
Un nombre relativement restreint de clients contribuent pour une part importante à nos revenus consolidés. Nos dix plus gros clients représentaient 18.9 % du chiffre d’affaires moins les coûts répercutés au cours de l’exercice clos le 31 décembre 2023.
Clients can reduce their marketing spend, terminate contracts or cancel projects on short notice. The loss of one or more of our largest clients or of a major assignment with them, if not replaced by new accounts or an increase in business from existing clients, would adversely affect our financial condition.
Comment il est géré et reflété dans nos priorités stratégiques
Flexibilité accrue dans la structure des coûts (y compris les incitations, les consultants et les indépendants).
Examen des affaires à chaque réunion du conseil d’administration et engagement régulier au niveau exécutif avec nos clients.
A 'new and existing business' tracker is reviewed by the Executive Committee on a monthly basis with regular updates provided to the Board.
RÉPUTATION
Définition du risque
Risque accru pour la réputation associé au travail sur des dossiers clients perçus comme étant préjudiciables à l'environnement et/ou déformant les allégations environnementales.
Impact potentiel
As societal consciousness around climate change rises, our sector is seeing increased scrutiny of its role in driving consumption. Our clients seek expert partners who can give recommendations that take into account their impact and stakeholder concerns around climate change.
Additionally, WPP serves some clients whose business models are under increased scrutiny, for example energy companies or associated industry groups. This creates both a reputational and related financial risk for WPP if we are not rigorous in our content standards.
Comment il est géré et reflété dans nos priorités stratégiques
Our climate training seeks to ensure that our people recognise
the importance of our sector's role in addressing the climate crisis. It is part of a broader sustainability training programme being run in multiple markets with localised content in key regions.
We have developed internal tools to help our people identify potentially environmentally harmful briefs. These tools embed climate-related issues within existing content review procedures across the organisation. The misrepresentation of environmental issues is governed by our Code of Conduct. We also ensure our policies reduce the risk that any client brief undermines the implementation of the Paris Agreement. In 2022, we introduced the revised Assignment Acceptance Policy and Framework and the Green Claims Guide to provide further guidance about how to conduct additional due diligence in relation to clients and any work we are asked to undertake.
HOMMES, CULTURE ET SUCCESSION
Définition du risque
Our performance could be adversely affected if we: do not react quickly enough to changes in our market; fail to attract, develop and retain key creative, commercial, technology and management talent; are unable to retain and incentivise key and diverse talent; or are unable to adapt to new ways of working by balancing home and office working.
Impact potentiel
Nous dépendons fortement du talent, des capacités créatives et des compétences techniques de nos collaborateurs ainsi que de leurs relations avec les clients.
Nous sommes vulnérables aux pertes de personnel au profit de concurrents (traditionnels et émergents) et de clients, ce qui entraîne une perturbation de l'activité.
Comment il est géré et reflété dans nos priorités stratégiques
The Compensation Committee provides oversight for the Group's compensation and incentive plans, which are structured to provide retention value by, for example, paying part of annual incentives in shares that vest two years after grant date.
WPP's All In survey provides the board, Executive Committee and senior leaders across the Group with the general sentiment, opinions and concerns of employees and was completed by 75% of our people in 2023. Headline findings included general and local views on engagement, career growth, leadership, client, wellbeing and inclusion and have contributed to the menu of initiatives available to our people.
We continue to work across the Group to embed collaboration and invest in training and development to retain and attract talented people.
The investment in co-located campus properties continues to increase the cooperation across our companies and provides extremely attractive and motivating working environments. Our real estate teams work closely with people teams across the business to consider how space is being utilised to support collaboration and innovation.
We also continue to focus on the mental health of our people by providing access to wellbeing resources, support networks, funded events, discussion forums and additional time off.
Looking ahead, succession planning for the Chief Executive Officer, the Chief Financial Officer and key executives of the Company is undertaken by the Board and Nomination and Governance Committee on a regular basis and a pool of potential internal and external candidates is identified for both emergency and planned scenarios.
CYBER ET SÉCURITÉ DE L'INFORMATION
Définition du risque
WPP has in the past, and may in the future, experience a cyber attack that leads to harm or disruption to our operations, systems or services. This risk is also likely to increase as the prevalence and sophistication of generative AI means there is potential for both human and AI-generated attacks.
Such an attack may also affect suppliers and partners through the unauthorised access to or manipulation, corruption or destruction of data.
Impact potentiel
Nous pouvons faire l'objet d'enquêtes ou de mesures coercitives ou de poursuites judiciaires ou encourir des amendes, des dommages ou des frais et perdre des clients si nous ne parvenons pas à protéger correctement les données.
Une panne ou une intrusion du système pourrait avoir un effet défavorable important sur nos activités, nos revenus, nos résultats d'exploitation, notre situation financière ou nos perspectives et avoir un impact sur notre réputation à long terme et entraîner la perte de clients.
The imposition of sanctions and the associated geopolitical situation following the conflicts in Ukraine and Gaza have triggered an increase in cyber attacks generally.
Comment il est géré et reflété dans nos priorités stratégiques
WPP has a single IT control framework that is mandatory for all WPP businesses and is aligned to the WPP Data Privacy & Security Charter, NIST, IS27001 and COBIT.
We monitor and log our network and systems through the WPP 24/7 Cyber Security Operations Centre, as well as undertaking threat intelligence activities, vulnerability scanning and penetration testing, where appropriate.
Breach and attack simulation software provides continuous assessment and WPP's Cyber Security Incident Exercise Specialists regularly test the incident response plans and playbooks, with lessons learned and improvements continually made.
We continually raise our people's security awareness through our mandatory WPP Safer Data training and rolling phishing simulation and education programmes.
WPP's Data Privacy, Security & Ethics Risk Sub-committee (a sub-committee of the WPP Risk Committee) meets quarterly and includes WPP's Chief Information Officer, Chief Information Security Officer, Chief Privacy Officer, Chief Sustainability Officer and Chief Technology Officer. This committee is responsible for identifying and responding to privacy, technology, data and cybersecurity risk across WPP.
LE RISQUE DE CRÉDIT
Définition du risque
Nous sommes soumis au risque de crédit en cas de défaut d'un client ou d'une autre contrepartie.
Des conditions économiques difficiles, des problèmes géopolitiques accrus, des chocs sur la confiance des consommateurs, des perturbations sur les marchés du crédit et des défis dans la chaîne d'approvisionnement perturbant les opérations de nos clients peuvent conduire à une détérioration de la solidité financière et des perspectives de nos clients qui peuvent réduire, suspendre ou annuler leurs dépenses avec nous, demander des conditions de paiement prolongées au-delà de 60 jours ou être incapable de satisfaire à nos obligations.
Impact potentiel
Nous sommes généralement payés à terme échu pour nos services. Les factures sont généralement payables dans un délai de 30 à 60 jours.
Nous nous engageons dans des achats de médias et de production pour le compte de certains de nos clients en tant que principal ou agent en fonction du client et des circonstances du marché. Si un client n'est pas en mesure de payer les sommes dues, les sociétés de médias et de production pourraient se tourner vers nous pour payer ces sommes, ce qui pourrait avoir un effet négatif sur notre fonds de roulement et nos flux de trésorerie d'exploitation.
Comment il est géré et reflété dans nos priorités stratégiques
Évaluer et surveiller la solvabilité continue des clients et, dans certains cas, exiger une assurance-crédit ou des paiements anticipés.
We work closely with our clients to ensure timely payment for services in line with contractual commitments and with vendors to maintain the settlement flow on media.
Notre situation de trésorerie et le respect des engagements de prêt sont un point récurrent à l’ordre du jour du comité d’audit et du conseil d’administration.
Processus de gestion accrus pour gérer le fonds de roulement et examiner les sorties et les recettes de trésorerie.
CONTRÔLES INTERNES
Définition du risque
Our performance could be adversely impacted if we fail to ensure adequate internal control procedures are in place.
If material weaknesses are identified, they could adversely affect our results of operations, investor confidence in the Group and the market price of our ADSs and ordinary shares.
Impact potentiel
Failure to ensure that our networks have robust control environments, or that the services we provide and trading activities within the Group are compliant with client obligations, could adversely impact client relationships and business volumes and revenues.
If material weaknesses in internal controls are discovered or occur in the future, our ability to accurately record, process and report financial information and, consequently, our ability to prepare financial statements within required time periods, could be adversely affected.
In addition, the Group may be unable to maintain compliance with the federal securities laws and NYSE listing requirements regarding the timely filing of periodic reports. Any of the foregoing could cause investors to lose confidence in the reliability of our financial reporting, which could have a negative effect on the trading price of the Group's ADRs and ordinary shares.
Comment il est géré et reflété dans nos priorités stratégiques
La transparence et le respect des contrats sont intégrés dans les réseaux et renforcés par des audits au niveau du WPP et du réseau.
Un suivi régulier des indicateurs de performance clés pour le trading est effectué afin d'identifier les tendances et les problèmes.
An authorisation matrix on inventory trading is agreed with the Board and the Audit Committee.
Our controls function continually reviews and, as needed, enhances controls across the Group, under the direction of our Global Director of Risk and Controls. Our technical accounting function supports both these review efforts and complex accounting matters and judgments, and changes in accounting standards.
Management is committed to maintaining a strong internal control environment, with appropriate oversight from controls committees which sit at WPP and at network level as sub-committees of the risk committees and meet quarterly, and from our Audit Committee. Regular actions include engagement of an independent valuation specialist to assist with the impairment assessment of intangible assets and goodwill, an annual refresh on discount rate methodology and reviews of the selection of cash flow periods and net working capital assumptions.
CONFIDENTIALITÉ DES DONNÉES
Définition du risque
Nous sommes soumis à une législation stricte en matière de protection des données et de confidentialité dans les juridictions dans lesquelles nous exerçons nos activités et nous nous appuyons largement sur les systèmes informatiques. Nous stockons, transmettons et utilisons des données critiques et sensibles telles que des plans stratégiques, des informations personnelles identifiables et des secrets commerciaux :
- Security of this type of data is exposed to escalating external threats, that are increasing in sophistication, as well as internal data breaches
- Data transfers between our global operating companies, clients or vendors may be interrupted due to changes in law (for example, EU adequacy decisions, CJEU Schrems II decision)
Impact potentiel
Nous pouvons faire l'objet d'enquêtes ou de mesures coercitives ou de poursuites judiciaires ou encourir des amendes, des dommages ou des coûts et des pertes de clients si nous ne parvenons pas à protéger adéquatement les données ou à respecter la législation sur la confidentialité dans tous les cas :
- The Group has in the past, and may in the future, experience a system breakdown or intrusion that could have a material adverse effect on our business, revenues, results of operations, financial condition or prospects
- Restrictions or limitations on international data transfers could have an adverse effect on our business and operations
Comment il est géré et reflété dans nos priorités stratégiques
We develop principles on privacy and data protection and compliance with local laws. We also monitor pending changes to regulations and identify changes to our processes and policies that would need to be implemented. In the case of data transfers, we also identify alternative approaches, including using other permitted transfer mechanisms, in order to limit any potential disruption (for example, SCCs instead of the US Data Protection Framework).
We implement extensive training ahead of new data protection regulations (including GDPR and CPPA) and roll out toolkits to assist our people to prepare for their implementation.
A Chief Privacy Officer and Global Data Protection Officer are appointed at the Company and are supported by a Data Protection Office. Data privacy activities across WPP are governed by the WPP Data Privacy & Security Charter and follow the WPP Privacy Management Framework.
WPP's Data Privacy, Security & Ethics Risk Sub-committee (a sub-committee of the WPP Risk Committee) meets quarterly and includes WPP's CIO, CSO, Chief Privacy Officer, Chief Sustainability Officer and CTO. The committee has responsibility for identifying and responding to privacy, technology, data and cybersecurity risk across WPP.
Nos collaborateurs doivent suivre une formation de sensibilisation à la confidentialité et à la sécurité des données et comprendre le code de conduite des données de WPP et les politiques de WPP sur la confidentialité et la sécurité des données.
L'enquête Data Health Checker est réalisée chaque année pour comprendre l'ampleur et l'étendue des données que nous collectons afin que le niveau de risque qui y est associé puisse être évalué.
Annual reporting to the Audit Committee on significant regulatory changes, data privacy risks and steps taken to mitigate those risks.
IMPOSITION
Définition du risque
Nous pouvons être soumis à des réglementations restreignant nos activités ou modifiant la fiscalité.
Impact potentiel
Changes in local or international tax rules and rates, changes arising from the application of existing rules, new demands and assessments or challenges by tax or competition authorities, may expose us to significant additional tax liabilities or impact the carrying value of our deferred tax assets, which would affect the future tax charge.
Comment il est géré et reflété dans nos priorités stratégiques
Nous surveillons activement toutes les modifications réglementaires ou statutaires proposées et consultons les agences gouvernementales et les organismes de réglementation lorsque cela est possible sur ces modifications proposées.
Briefings semestriels au Comité d'Audit sur les changements importants dans les lois fiscales et leur application et briefings réguliers à la direction générale. Nous engageons des conseillers et des conseillers juridiques pour obtenir des avis sur la législation et les principes fiscaux.
RÉGLEMENTAIRE
Définition du risque
We are subject to strict anti- corruption, anti-bribery and anti-trust legislation and enforcement and incoming anti-fraud legislation in the countries in which we operate.
Impact potentiel
Nous opérons sur un certain nombre de marchés où le risque de corruption a été identifié comme élevé par des groupes tels que Transparency International.
Failure to comply or to create a culture opposed to fraud and corruption or failing to instil business practices that prevent fraud and corruption could expose us to civil and criminal sanctions.
Comment il est géré et reflété dans nos priorités stratégiques
Online and in-country ethics, anti-bribery, anti-corruption, anti-fraud and antitrust training on a Group-wide basis to raise awareness and seek compliance with our Code of Conduct and ABC and Fraud Policy.
Une fonction d’intégrité commerciale en constante évolution pour garantir le respect de nos codes et politiques et la réparation de toute violation de la politique.
Continuous communication of the confidential, independently operated Right to Speak helpline for our people and stakeholders to raise any potential breaches of our Code and policies, which are investigated and reported to the Audit Committee on a regular basis.
Due diligence on acquisitions and on selecting and appointing suppliers, an actively managed disclosure programme around conflicts of interest and related party interests and restrictions on the use of third-party consultants in connection with any client pitches.
Rolling programme of creating shared financial services in the markets in which we operate and a controls function which operates at WPP and at network level.
Risk committees are well established at WPP and across the networks to monitor risk and compliance through all of our businesses and the enhancement of our business integrity programme across our markets. For details of the risk committees' responsibilities and our business integrity programme see pages 93-96.
Registre des cadeaux et des marques d’hospitalité et processus d’approbation.
LES SANCTIONS
Définition du risque
We are subject to the laws of the US, the EU, the UK and other jurisdictions that impose sanctions and regulate the supply of services to certain countries.
The conflict in Ukraine has caused the adoption of comprehensive sanctions by, among others, the EU, the US and the UK, which restrict a wide range of trade and financial dealings with Russia and Russian persons.
Impact potentiel
Le non-respect de ces lois pourrait nous exposer à des sanctions civiles et pénales, notamment des amendes et l'imposition de sanctions économiques à notre encontre, ainsi qu'à une atteinte à notre réputation et au retrait des facilités bancaires, ce qui pourrait avoir un impact important sur nos résultats.
Comment il est géré et reflété dans nos priorités stratégiques
Formation en ligne pour sensibiliser et assurer la conformité et des mises à jour pour nos entreprises sur toute nouvelle sanction.
Regular briefings to the Audit Committee and constant monitoring by the WPP legal team with assistance from external advisors of the sanctions regimes. Executive Committee briefed and working with the WPP legal team to ensure compliance with escalating sanctions as a consequence of the conflict in Ukraine.
We have taken a number of actions as a consequence of the conflict in Ukraine. We discontinued our operations in Russia and have ensured compliance with all sanctions as they impact any clients, suppliers or financial arrangements.
ESG REGULATION AND REPORTING
Définition du risque
The Group could be subject to increased costs to comply with the potential future changes in Environmental, Social and Governance (ESG) law and regulations.
A failure to manage the complexity in carbon emission accounting for marketing and media or to consider Scope 3 emissions in new technology and business model innovation across the supply chain could have an adverse effect on our business and reputation.
Impact potentiel
We could be subject to increased costs to comply with potential future changes in ESG laws and regulations. This includes increasing carbon offset pricing to meet our net zero commitments.
Increased investment is also required in building renovation, electrification, embedding sustainability in AI development and supplier engagement to meet targets, including developing internal ESG capacity and capabilities.
In addition, carbon emission accounting for marketing and media is in its infancy and methodologies continue to evolve. This is particularly the case for emissions associated with digital media.
Comment il est géré et reflété dans nos priorités stratégiques
We are developing an ESG compliance roadmap to deliver against our regulatory obligations, including for the EU Corporate Sustainability Reporting Directive.
Our Transition Plan will provide the roadmap to achieving our net zero commitments. As part of this plan and through our work to decarbonise media and media supply chains, we are exploring opportunities to improve accounting for emissions from media.
To manage the cost and quality of carbon credits purchased to offset residual emissions, in 2022 WPP updated its Sustainability Policy and released a new Environmental Policy which includes policy guidance around offsetting and we are further developing our offsetting strategy as part of our net zero roadmap.
The Board Sustainability Committee, formed in 2019, gives increased focus on sustainability and implementation of our plans and policies.
Measuring and monitoring sustainability KPIs is critical to meet our sustainability strategy and targets. In 2022, we introduced new ESG controls which we continued to roll out across the business in 2023 and regular testing of which provides crucial measurement data.
ESG KPIs are included as part of the scorecard that determines the short-term incentive rewards for WPP's CEO, CFO and some key members of the Executive Committee. This includes WPP's performance against carbon reduction targets.
Further information on ESG governance and ESG reporting is provided in the Sustainability section of this report (pages 53-61).
RISQUES ÉMERGENTS
Définition du risque
Les opérations du Groupe pourraient être perturbées par une fréquence accrue de phénomènes météorologiques extrêmes et de catastrophes naturelles liées au climat.
Impact potentiel
Cela inclut les tempêtes, les inondations, les incendies de forêt et le stress hydrique et thermique qui peuvent endommager nos bâtiments, mettre en péril la sécurité et le bien-être de nos collaborateurs et perturber considérablement nos opérations.
Comment il est géré et reflété dans nos priorités stratégiques
Our Crisis Management and Business Resilience function provides global standards for operational resilience: strategy, governance, policy, resources and training assets to better plan for and respond to crisis events of all types and at all degrees of scale. This includes extreme weather events.
Co-locating our people in fewer, higher-capacity campus buildings means we can centralise emergency preparedness procedures and deploy climate mitigation measures more efficiently. Climate-related risk is considered when we invest in new campus buildings.
Notre approche de travail hybride, qui intègre les nouvelles méthodes de travail adoptées pendant la pandémie, offre une résilience supplémentaire en permettant le travail entièrement à distance - à condition que les employés et leurs familles se trouvent dans des endroits sûrs - lors d'événements météorologiques extrêmes.
Le programme d’aide aux employés est activé en réponse aux événements météorologiques extrêmes liés au climat.
ANNEXE B : DÉCLARATION DE RESPONSABILITÉ DES ADMINISTRATEURS
Chacun des Administrateurs actuels dont les noms et fonctions figurent dans la section Gouvernance d'entreprise du Rapport Annuel 2023 confirme qu'au meilleur de sa connaissance :
· the Group financial statements, which have been prepared in accordance with IFRS, issued by the International Accounting Standards Board (IASB) as they apply to the financial statements of the Group for the year ended 31 December 2023, give a true and fair view of the assets, liabilities, financial position and profit of the Group? and
· the Strategic Report and risk sections of the Annual Report, which represent the management report, include a fair review of the development and performance of the business and the position of the Company and the Group taken as a whole, together with a description of the principal risks and uncertainties that it faces.
ANNEXE C : OPÉRATIONS AVEC DES PARTIES LIÉES
The Group enters into transactions with its associate undertakings. The Group has continuing transactions with Kantar, including sales, purchases, the provision of IT services, subleases and property-related items. In the year ended 31 December 2023, revenue of £233.0 million (2022: £159.7 million) was reported in relation to Compas, an associate in the USA, and revenue of £20.9 million (2022: £42.7 million) was reported in relation to Kantar. All other transactions in the years presented were immaterial.
Les sommes suivantes dues par les parties liées étaient impayées au 31 décembre 2023 :
Kantar £17.5 million
Other £56.0 million
Les montants suivants dus aux parties liées étaient impayés au 31 décembre 2022 :
Kantar £(4.7) million
Other £(70.4) million
FIN
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