WPP confirms Mark Read as chief executive

Advertising group has offered pay package of up to £7m to Sir Martin Sorrell’s successorWPP, the world’s largest marketing services group, has officially appointed Mark Read as its new chief executive.Read, 51, has been jointly running WPP on an interim basis since Sir Martin Sorrell resigned in controversial and acrimonious circumstances in April. WPP’s board was unanimous in the decision to appoint Read, who had been tipped as the favourite for the job. Related: Spectre