Sunday, 22 July, 2018

Martin Sorrell makes shock departure from WPP

Sorrell 'sad to leave WPP after 33 years' Sorrell'sad to leave WPP after 33 years
Elsie Buchanan | 16 April, 2018, 02:28

Sir Martin Sorrell the CEO of WPP a $20 billion-dollar communications group has abruptly resigned, at this stage it's not know whether the move was voluntary after his board commenced an investigation into an allegation of "personal misconduct".

WPP PR Companies operating in Australia include Ogilvy PR, Burson Marsteller, Hill & Knowlton, PPR, Pulse and several conflict agencies.

"As I look ahead, I see that the current disruption we are experiencing is simply putting too much unnecessary pressure on the business, our over 200,000 people and their 500,000 or so dependents, and the clients we serve in 112 countries". His fall from grace took less than a month after WPP announced April 3 that it was investigating the allegations.

"Martin changed an industry inventing a lot of what became the model for the big holding company along the way", says David Jones, the former global chief executive of Havas.

Sir Martin, 75, acquired a small Kent-based wire baskets maker in 1985 and turned it into the world's largest advertising and marketing services group.

Sorrell was the highest-paid CEO among FTSE 100 companies in both 2015 and 2016, according to a study released past year by the Chartered Institute of Personnel and Development and the High Pay Centre. So if WPP does well, I do well, and others in the company do well.

A salmonella recall is affecting 207 million eggs across the US
The FDA said the recall affects eggs from a farm in Hyde County, N.C., owned by the Seymour, Indiana, -based Rose Acre Farms. The recall is the largest of shell eggs in the USA since 2010, according to Food Safety News .


The company has also named Mark Read, who runs WPP's digital operation Wunderman, and its European chief operating officer Andrew Scott as joint chief operating officers.

Sorrell, 73, said in a statement that he was sad to leave, with WPP having been his passion and focus for more than three decades.

He previously worked at Saatchi and Saatchi, and was knighted in the Queen's New Year honours list in 2000.

A source close to Sorrell said he had been unhappy with how the investigation was handled, leaving him uncertain whether he could work with the board again.

Roberto Quarta described Sir Martin as being the "driving force" behind WPP's growth and thanked him for his commitment to the business.

"During this time, the company has been successful because it has valued and nurtured outstanding talent at every level - within and well beyond our leadership teams".

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