Marketing and Ad Chiefs React to Brexit

Sir Martin Sorrell and other senior figures from the marketing and ad industry have been reacting to Britain's decision to leave the EU, most with alarm but some mixing this with relish for the challenge and possible long-term opportunities.

WPP boss Sorrell, who along with a majority of big business leaders voiced support for Remain during the campaign, said on BBC Radio 4's Today programme that the decision to leave combined with the resignation of PM David Cameron would lead to uncertainty, 'the enemy of growth'. Sorrell told www.campaignlive.co.uk he was 'Very disappointed, but the electorate has spoken'. He continued: 'This is not good news, to say the least. However, we must deploy that stiff upper lip and make the best of it... Four of WPP's top ten markets are in Western Continental Europe and we must build our presence there even further'.

Michael Roth, Chief Executive of Interpublic Group said the decision would 'lead to market volatility in the short term, no question', but then struck a more positive note: 'the UK is a key market to our clients and our own company and together we'll find footing in this new world. Longer-term, as long as open trade remains a priority, markets should normalise and that's the timeline we're focused on'. Meanwhile Chris Hirst, CEO for Europe at Havas Creative Group, said: 'I didn't support leaving the EU, but despite the surprise of this result, nor do I agree with those who predict disaster. The UK will continue to lead the world in the depth and breadth of its creative talent and creative industries'.

Andrew Dimitriou, President of Y&R Europe, said 'Ego had trumped logic' and 'Short-term, isolationist thinking has won against the long term creativity and collaboration', concluding: 'A nation once so inherently innovative will lose its place of honour at the global table. The impact on the Brand Great Britain will be immense, and brands that are inherently British will suffer'.

James Murphy, CEO of Adam&Eve/DDB, balanced comments and ended on a high note: 'his is such a big and historic decision overnight that we obviously face the uncertainty around the effects on our country, our businesses and our households. The period of political turmoil and renegotiation won't be helpful.

'However, we work in a very energetic and entrepreneurial industry that has always punched above its weight. There will be some challenges in the short term, but there will be many opportunities as well. And more than most, our industry is great at taking those on'.

Many thanks to Campaign for most of the above.