The future direction of WPP remains unclear after the departure of its founder and chief executive Sir Martin Sorrell following 33 years at the helm.
Prior to his departure earlier this month, the world's largest advertising firm said it was investigating Sorrell over "an allegation of personal misconduct."
WPP employs more than 200,000 staff in 400 separate ad businesses across 112 countries. Analysts are divided over the firm's future, with some speculating that it could be broken up to realize value.
Lorna Tilbian is a former media banker and analyst who famously called both the top on advertising giant Saatchi & Saatchi's shares at the end of the 1980s and the bottom price for WPP's share price in 1992. At a retirement dinner in her honor, she was toasted by Maurice Saatchi as "the undoubted queen of the media."
Speaking to CNBC on the phone Friday, Tilbian said that Sorrell's departure looked like a disagreement over the company's future direction.
"I think it's a strategic fallout if you ask me," she said. "Because if it was succession there would have been an orderly handover and it would not have been starting the search now."