WPP’s exiting UK president Karen Blackett is among a group of 120 business leaders who have signed a letter endorsing Kier Starmer’s leadership campaign and outline their belief in the need for “a change”.
Other signatories include Wikipedia founder Sir Jimmy Wales, as well as retail leaders from companies including JD Sports, Iceland, Aston Martin and more.
The letter, which was published in full in The Times, reads: “The UK has the potential to be one of the strongest economies in the world. A lack of political stability and the absence of consistent economic strategy have held it back.”
It also said the country had been “denied” necessary skills and infrastructure.
The letter continued: “Labour has shown it has changed and wants to work with businesses to achieve the UK’s full economic potential.”
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It marks a shift from the 2015 general election, which saw business leaders back the Tories. Some of those who signed today’s letter, including Iceland’s Sir Malcolm Walker, previously put their names down in support of the Tories in 2015.
For the advertising sector – including WPP – the past few years have been a markedly tough time, with job cuts at Channel 4 and ITV largely down to an advertising slump.
Consumer spending on non-essential items has also continued to go down amid a cost-of-living crisis, with one survey from Big 4 firm KPMG revealing that as many as half of UK consumers have made such cutbacks.
Inevitably, this will be impacting retailers, advertisers and tech firms alike.
WPP’s Blackett is set to exit the business this summer after almost 30 years to pursue ‘external interests’ and ‘new opportunities’.
