MoneyAM MoneyAM
 Home   Log In   Register   Our Services   My Account   Contact   Help 
 Stockwatch   Level 2   Portfolio   Charts   Research   Share Price   Awards   Indices   Market Scan   Company Zone   Traders' Room 
 Funds   Trades   Terminal   Alerts   Heatmaps   News   Stock Screener   Forward Diary   Forex Prices   Director Deals   Investors' Room 
 CFDs   Shares   SIPPs   ISAs   Forex   ETFs   Videos   Comparison Tables   Spread Betting   Broker Notes   Shares Magazine 
You are NOT currently logged in

Filter Criteria  
Epic: Keywords: 
From: Time:  (hh:mm) RNS:  MonAM: 
To: Time:  (hh:mm)
Please Note - Streaming News is only available to subscribers to the Active Level and above

WPP confirms resignation of CEO Martin Sorrell after misconduct probe

WPP confirmed that chief executive Martin Sorrell had stood down following an investigation by the company into alleged misconduct.

The advertising company didn't reveal what Sorrell had done, other than to state that 'the allegation did not involve amounts that are material'.

The announcement of Sorrell's departure was originally issued on Saturday.

Chairman Roberto Quarta would fill the CEO role on an interim basis as executive chairman while a permanent replacement was identified.

Mark Read, CEO of units Wunderman and WPP Digital, and Andrew Scott, head of the company's European operations, had been appointed as joint chief operating officers.

Sorrell said: 'Obviously I am sad to leave WPP after 33 years. It has been a passion, focus and source of energy for so long. However, I believe it is in the best interests of the business if I step down now.'

Quarta said Sorrell had been the driving force behind WPP's expansion and thanked him for his 'commitment to the business over more than three decades'.

Story provided by