Informe Anual 2023 y Aviso de Junta General
Motorola Solutions Inc
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16:30 19/03/24
PARA PUBLICACION INMEDIATA | 21 de marzo de 2024 |
WPP PLC ("WPP" o "la Compañía")
Publicación del Informe Anual 2023, Informe de Sostenibilidad y Convocatoria de Asamblea General Anual 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) junto con su Memoria de Sostenibilidad. WPP también ha publicado hoy su Aviso de Asamblea General Anual de 2024 (el 'Aviso de AGM de 2024', www.wpp.com/investors/shareholder-centre/shareholder-meetings), que se distribuirá a los accionistas en breve.
La AGM de la Compañía se llevará a cabo el 8 de mayo de 2024 a las 11.00:2 a. m. en Rose Court, 1 Southwark Bridge Road, London SE9 XNUMXHS, con instalaciones para seguir los negocios de la AGM virtualmente.
De conformidad con 9.6.1 de las Reglas de cotización, copias del Informe Anual 2023 y Aviso de la Junta General de Accionistas de 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.
Se enviará una versión impresa del Informe Anual 2023 a aquellos accionistas que hayan elegido recibir comunicaciones en papel el 4 de abril de 2024 o alrededor de esa fecha.
La información incluida en el anuncio de resultados preliminares no auditados publicado el 22 de febrero de 2024, junto con la información en los Apéndices de este anuncio que se extrae del Informe Anual 2023, constituyen los materiales requeridos por la Regla de Transparencia y Orientación de Divulgación de la FCA 6.3.5R. Este anuncio no reemplaza la lectura del Informe Anual 2023 completo. Las referencias a páginas y notas en los Apéndices a continuación se refieren a las referencias a páginas y notas en el Informe Anual 2023.
Balbir Kelly-Bisla
Secretaria de Empresa
Más información
Chris Wade, WPP ricardo oldworth, Comunicaciones Buchanan | 44 0 20 7282 4600 44 0 20 7466 5000 |
Sobre WPP
WPP es la empresa de transformación creativa. Usamos el poder de la creatividad para construir mejores futuros para nuestra gente, el planeta, los clientes y las comunidades. Para más información visite www.wpp.com.
APÉNDICE A: PRINCIPALES RIESGOS E INCERTIDUMBRES
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.
RIESGO ECONÓMICO
Definición de riesgo
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.
Impacto potencial
Las condiciones económicas, incluyendo la inflación y el aumento de las tasas de interés, entre otras, tienen un impacto directo en nuestro negocio, resultados de operación y posición financiera.
En el pasado, los clientes han respondido a las débiles condiciones económicas y financieras reduciendo o modificando sus presupuestos de marketing, que son más fáciles de reducir a corto plazo que sus otros gastos operativos.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
Nuestros equipos de cuentas trabajan de manera proactiva con nuestros clientes para comprender los desafíos que enfrentan, determinar las tendencias generales en el gasto de marketing y desarrollar planes por adelantado para ayudarnos a preparar, redistribuir recursos y administrar los costos en consecuencia.
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.
Nuestra cartera de clientes es diversa y consiste en organizaciones que operan en diferentes sectores industriales y en una amplia distribución geográfica, lo que ayuda a mitigar aún más el impacto de cualquier desafío específico que puedan enfrentar los clientes o mercados individuales.
RIESGO GEOPOLÍTICO
Definición de riesgo
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.
Impacto potencial
La tensión y los conflictos geopolíticos reales o amenazados conducen a una mayor incertidumbre, inestabilidad económica y una falta de confianza general para muchos de nuestros clientes que se inclinan a reducir, retrasar o cancelar sus planes y presupuestos de marketing.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
Trabajamos en estrecha colaboración con nuestros equipos en el país, asesores externos, clientes y otras agencias para monitorear el nivel y la naturaleza de los problemas, eventos y desarrollos geopolíticos en todos los mercados y regiones.
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.
PANDEMIA
Definición de riesgo
El impacto de una pandemia en nuestro negocio dependerá de numerosos factores que no podemos predecir con precisión, incluida la duración y el alcance de una pandemia, cualquier variante nueva o existente, las acciones gubernamentales para mitigar los efectos de una pandemia y la continuación y impacto a largo plazo de una pandemia en los planes de gastos de nuestros clientes.
Impacto potencial
Una pandemia y cualquier variante nueva y las medidas para contener su propagación pueden tener un efecto adverso en nuestro negocio, ingresos, resultados de operaciones y situación y perspectivas financieras.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
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 ESTRATÉGICO
Definición de riesgo
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.
Impacto potencial
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.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
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
Definición de riesgo
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.
Impacto potencial
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.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
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.
TI Y SISTEMAS
Definición de riesgo
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.
El Grupo depende de terceros para el desempeño de una parte importante de nuestras funciones de operaciones y tecnología de la información en todo el mundo.
La falta de provisión de estas funciones podría tener un efecto adverso en nuestro negocio.
Impacto potencial
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.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
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.
Los informes de progreso también se completan como parte de las sesiones informativas periódicas que recibe la Junta sobre la implementación general del plan estratégico.
PÉRDIDA DE CLIENTES
Definición de riesgo
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.
Impacto potencial
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.
Por lo general, los contratos de los clientes pueden rescindirse con un aviso de 90 días o se realizan por asignación y los clientes someten su negocio a una revisión competitiva de vez en cuando.
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.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
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.
Mejora continua de nuestra capacidad creativa y reputación de nuestros negocios. El desarrollo e implementación de incentivos de liderazgo sénior para alinearse más estrechamente con nuestra estrategia y desempeño.
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.
Compromiso continuo con nuestros clientes y proveedores durante este período de incertidumbre y reducción de la actividad económica.
CONCENTRACIÓN DE CLIENTES
Definición de riesgo
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.
Impacto potencial
Un número relativamente pequeño de clientes contribuye con un porcentaje significativo de nuestros ingresos consolidados. Nuestros diez clientes más importantes representaron el 18.9 % de los ingresos menos los costos traspasados en el año finalizado el 31 de diciembre de 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.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
Mayor flexibilidad en la estructura de costos (incluyendo incentivos, consultores y freelancers).
Revisión comercial en cada reunión de la Junta y participación regular a nivel ejecutivo con nuestros clientes.
A 'new and existing business' tracker is reviewed by the Executive Committee on a monthly basis with regular updates provided to the Board.
REPUTACIÓN
Definición de riesgo
Mayor riesgo para la reputación asociado con trabajar en resúmenes de clientes percibidos como perjudiciales para el medio ambiente y/o tergiversando afirmaciones ambientales.
Impacto potencial
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.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
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.
PERSONAS, CULTURA Y SUCESIÓN
Definición de riesgo
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.
Impacto potencial
Dependemos en gran medida del talento, las habilidades creativas y las habilidades técnicas de nuestra gente, así como de sus relaciones con los clientes.
Somos vulnerables a la pérdida de personas frente a competidores (tradicionales y emergentes) y clientes, lo que genera una interrupción del negocio.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
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.
SEGURIDAD CIBERNÉTICA Y DE LA INFORMACIÓN
Definición de riesgo
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.
Impacto potencial
Es posible que estemos sujetos a acciones de investigación o ejecución o demandas legales o incurramos en multas, daños o costos y pérdida de clientes si no protegemos adecuadamente los datos.
Una falla o intrusión en el sistema podría tener un efecto adverso significativo en nuestro negocio, ingresos, resultados de operaciones, condición financiera o perspectivas y tener un impacto en la reputación a largo plazo y conducir a la pérdida de clientes.
The imposition of sanctions and the associated geopolitical situation following the conflicts in Ukraine and Gaza have triggered an increase in cyber attacks generally.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
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.
RIESGO CREDITICIO
Definición de riesgo
Estamos sujetos al riesgo crediticio por el incumplimiento de un cliente u otra contraparte.
Las condiciones económicas desafiantes, los problemas geopolíticos elevados, los impactos en la confianza del consumidor, la interrupción en los mercados crediticios y los desafíos en la cadena de suministro que interrumpen las operaciones de nuestros clientes pueden conducir a un empeoramiento de la fortaleza financiera y las perspectivas para nuestros clientes que pueden reducir, suspender o cancelar el gasto con nosotros, solicitar plazos de pago extendidos más allá de los 60 días o no poder cumplir con las obligaciones.
Impacto potencial
Por lo general, nos pagan atrasados por nuestros servicios. Las facturas suelen pagarse en un plazo de 30 a 60 días.
Nos comprometemos a comprar medios y producción en nombre de algunos de nuestros clientes como principal o agente, según las circunstancias del cliente y del mercado. Si un cliente no puede pagar las sumas adeudadas, las empresas de medios y producción pueden pedirnos que paguemos esas cantidades y podría haber un efecto adverso en nuestro capital de trabajo y flujo de efectivo operativo.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
Evaluar y monitorear la solvencia continua de los clientes y, en algunos casos, exigir seguros de crédito o pagos por adelantado.
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.
Nuestra posición de tesorería y el cumplimiento de los convenios de préstamo es un tema recurrente en la agenda del Comité de Auditoría y la Junta.
Aumento de los procesos de gestión para administrar el capital de trabajo y revisar las salidas y entradas de efectivo.
CONTROLES INTERNOS
Definición de riesgo
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.
Impacto potencial
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.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
La transparencia y el cumplimiento de los contratos están integrados a través de las redes y reforzados por auditorías a nivel de WPP y de red.
Se lleva a cabo un seguimiento regular de los indicadores clave de rendimiento para el comercio a fin de identificar tendencias y problemas.
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.
PRIVACIDAD DE DATOS
Definición de riesgo
Estamos sujetos a una estricta legislación de privacidad y protección de datos en las jurisdicciones en las que operamos y dependemos en gran medida de los sistemas de tecnología de la información. Almacenamos, transmitimos y confiamos en datos críticos y confidenciales, como planes estratégicos, información de identificación personal y secretos comerciales:
- 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)
Impacto potencial
Podemos estar sujetos a acciones de investigación o ejecución o demandas legales o incurrir en multas, daños o costos y pérdida de clientes si no protegemos adecuadamente los datos o no observamos la legislación de privacidad en todos los casos:
- 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
Cómo se gestiona y refleja en nuestras prioridades estratégicas
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.
Nuestra gente debe tomar la capacitación de Concientización sobre privacidad y seguridad de datos y comprender el Código de conducta de datos de WPP y las políticas de WPP sobre privacidad y seguridad de datos.
La encuesta Data Health Checker se realiza anualmente para comprender la escala y la amplitud de los datos que recopilamos para poder evaluar el nivel de riesgo asociado con esto.
Annual reporting to the Audit Committee on significant regulatory changes, data privacy risks and steps taken to mitigate those risks.
IMPUESTOS
Definición de riesgo
Podemos estar sujetos a regulaciones que restrinjan nuestras actividades o que efectúen cambios en los impuestos.
Impacto potencial
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.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
Monitoreamos activamente cualquier cambio regulatorio o estatutario propuesto y consultamos con agencias gubernamentales y organismos reguladores cuando sea posible sobre dichos cambios propuestos.
Sesiones informativas semestrales al Comité de Auditoría sobre cambios significativos en las leyes tributarias y su aplicación y sesiones informativas periódicas a la dirección ejecutiva. Contratamos asesores y asesores legales para obtener opiniones sobre la legislación y los principios tributarios.
REGULADORES
Definición de riesgo
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.
Impacto potencial
Operamos en una serie de mercados en los que grupos como Transparency International han identificado que el riesgo de corrupción es alto.
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.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
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.
Una función de integridad comercial en constante evolución para garantizar el cumplimiento de nuestros códigos y políticas y la reparación de cualquier incumplimiento de la política.
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.
Registro de obsequios y atenciones y proceso de aprobación.
SANCIONES
Definición de riesgo
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.
Impacto potencial
El incumplimiento de estas leyes podría exponernos a sanciones civiles y penales, incluidas multas y la imposición de sanciones económicas en nuestra contra, daños a la reputación y retiro de servicios bancarios, lo que podría tener un impacto material en nuestros resultados.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
Capacitación en línea para crear conciencia y buscar el cumplimiento y actualizaciones para nuestras empresas sobre cualquier nueva sanción.
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
Definición de riesgo
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.
Impacto potencial
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.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
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).
RIESGOS EMERGENTES
Definición de riesgo
Las operaciones del Grupo podrían verse interrumpidas por una mayor frecuencia de desastres naturales relacionados con el clima y el clima extremo.
Impacto potencial
Esto incluye tormentas, inundaciones, incendios forestales y estrés por agua y calor que pueden dañar nuestros edificios, poner en peligro la seguridad y el bienestar de nuestra gente e interrumpir significativamente nuestras operaciones.
Cómo se gestiona y refleja en nuestras prioridades estratégicas
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.
Nuestro enfoque de trabajo híbrido, que incorpora nuevas formas de trabajar adoptadas durante la pandemia, brinda resiliencia adicional al permitir el trabajo completamente remoto, siempre que los empleados y sus familias estén en lugares seguros, durante eventos climáticos extremos.
El Programa de Asistencia al Empleado se activa en respuesta a eventos climáticos extremos relacionados con el clima.
APÉNDICE B: DECLARACIÓN DE RESPONSABILIDAD DE LOS DIRECTORES
Cada uno de los actuales Directores cuyos nombres y funciones se relacionan en la sección de Gobierno Corporativo del Informe Anual 2023 confirma que, a su leal saber y entender:
· 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.
ANEXO C: OPERACIONES CON PARTES RELACIONADAS
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.
Los siguientes montos adeudados por partes relacionadas estaban pendientes al 31 de diciembre de 2023:
Kantar £17.5 million
Other £56.0 million
Los siguientes montos adeudados a partes relacionadas estaban pendientes al 31 de diciembre de 2022:
Kantar £(4.7) million
Other £(70.4) million
FIN
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