Ad king Sir Martin Sorrell steps down from WPP following misconduct investigation

Sorrell's full resignation message to WPP 'Godspeed to all of you'

Sorrell's full resignation message to WPP 'Godspeed to all of you'

The previously announced investigation into an allegation of misconduct against Sir Martin has concluded.

"Mark and Andrew and the management team at all levels have the knowledge and abilities to take WPP to even greater heights and capitalize on the geographic and functional opportunities", said Sorrell. The allegations do not involve amounts which are material to WPP as the holding company.

In a statement also released last night, Sorrell said: "The current disruption we are experiencing is simply putting too much unnecessary pressure on the business".

In a statement, he said it was "in the best interests of the business if I step down now".

WPP act for some of the biggest consumer electronics and appliance Companies in the world, Sorrell was also one of the highest paid earning an annual salary of over $150M per year, the Company has said that a new CEO will be appointed shortly.

Lebanon, Iraq Back Iran at Arab League Meeting
Recent developments in the regional affairs are believed to dominate leaders' speeches during the opening session on Sunday. President Donald Trump's decision previous year to recognise Jerusalem as the capital of Israel.

Analysts believe Sorrell's departure combined with a share price slump of nearly a third over the past year means investors and the WPP board will have to consider that there is potentially more value in breaking up WPP. The agency giant is looking into an allegation of personal misconduct "which may have some minor financial implications", the person says.

However, his departure will leave the company he built virtually from ‎scratch facing profound questions about its future direction.

Sir Martin said his position at WPP had been a passion for so long but it was in "the best interests of the business" for him to resign.

Born in London, Sorrell studied economics at the University of Cambridge and then gained a masters from Harvard University.

He received a knighthood from Queen Elizabeth II in 2000.

Srikanth settles for silver, Lee takes third CWG gold
Lee was simply all over the court and had answers to everything Srikanth threw at him. The Indian breezed away with a 11-8 lead midway into the second game.

Born to Jewish parents who were from Kiev, Sorrell began his career in the renowned and trendy ad agency Saatchi & Saatchi (which fashioned winning electoral campaigns for Britain's conservative prime minister Margaret Thatcher) in 1975.

Sorrell formed WPP from a shell company, Wire & Plastic Products PLC, establishing it as a marketing services group in 1986.

The firm has grown into one of the world's largest communications groups and now has some 3,000 offices.

The research group identifies negative and positive press coverage by reviewing more than twenty million news and blog sources.

However, he always fiercely defended his income, saying it was related to how well the company he started from nothing was doing. Sir Martin would of course assist with the transition.

76ers' Embiid: 'Pretty good chance' I'll play in Game 2 or 3
Decked out in his protective mask, Embiid was in attendance for Game 1 Saturday to ring the ceremonial bell prior to tip-off. JJ Redick topped all players in scoring with 28 points, and was one of three Sixers to reach the 20-point plateau.

As of a year ago, Sorrell was said to have a net worth of 495 million pounds, or over $700 million.

Recommended News

  • Golds for Mary Kom, Gaurav Solanki, Vikas Krishan

    Golds for Mary Kom, Gaurav Solanki, Vikas Krishan

    In the men's competition, Solanki provided the golden touch, pulling it off 4-1 over Northern Ireland's Brendan Irvine. Saina had won the first game comfortably but she was made to work for the title in the second game.
    Cynthia Nixon accepts endorsement from NY's Working Families Party

    Cynthia Nixon accepts endorsement from NY's Working Families Party

    Nixon, the Sex and the City star, declined to commit to run her campaign through November should she lose the Democratic primary. The Working Families Party was formed in 1998 by labor unions and community groups and advocates for progressive issues.
    Davis, Rondo power Pelicans past Spurs, 122-98

    Davis, Rondo power Pelicans past Spurs, 122-98

    The Blazers will have home-court advantage in a series for the first time since 2008 when they played the Houston Rockets. Aldridge leads in rebounds with 8.5 while Tony Parker tops in assists with 3.6. "I think it puts some pressure on us".
  • Hearing Related To FBI Raid At Trump Lawyer's Office Set

    Hearing Related To FBI Raid At Trump Lawyer's Office Set

    Cohen has said he paid Daniels out of his own pocket shortly before the 2016 presidential election, but has not explained why. The lawyer for the Playboy model involved with Broidy said his client had no statement and clarified that she isn't McDougal.
    Ben Stiller and Robert De Niro Have a 'Meet the Parents' Reunion

    Ben Stiller and Robert De Niro Have a 'Meet the Parents' Reunion

    The two are stressing over the recent Federal Bureau of Investigation raid of Cohen's office to which Pence says, "In a couple of months, the President will be back to normal".
    Man arrested after allegedly shooting gun near Champion workplace

    Man arrested after allegedly shooting gun near Champion workplace

    Friday in the 100 block of East Halstead Avenue for possession of drug paraphernalia and possession of a controlled substance. Police say Cornelius has a previous conviction for driving under the influence and is now on probation for child neglect.
  • Ricciardo's engine blows up in Chinese GP practice

    Ricciardo's engine blows up in Chinese GP practice

    Ricciardo is out of contract this year, and Red Bull is monitoring sister team Toro Rosso's progress with Honda engines. Daniel Ricciardo at the post-race press conference: "Once I was aware we had the pace I wasn't going to let it slip".
    NAFTA deal close, Pence tells reporters

    NAFTA deal close, Pence tells reporters

    He says they discussed the fact that both countries have strong presidents with strong personalities who are bound to have strong differences at times.
    Games-Sensational Brazier try gives NZ women rugby sevens gold

    Games-Sensational Brazier try gives NZ women rugby sevens gold

    Gayle Broughton scored after an extended attack spread the Kenyans across the park to stretch the lead to 19-0 at halftime. The second half was less demoralising as the Bok women only let in one try, but by then the damaged had been done.
  • Substitute teacher ran 'fight club' in CT  school, polic

    Substitute teacher ran 'fight club' in CT school, polic

    Burroughs ruled that a redacted portion of applicants' files and correspondence between admissions officers will become public . If there is a walkout, it could be a long one: Teachers statewide are demanding a 20 percent raise from the Legislature.
    Kim Kardashian West: 'Khloe made giving birth look easy'

    Kim Kardashian West: 'Khloe made giving birth look easy'

    Kim shares her son with husband Kanye West, while Dream's mother is 31-year-old sock designer Rob's ex girlfriend, Blac Chyna.
    Syrian President Assad: 'Any Western Action Will Increase Instability in Region'

    Syrian President Assad: 'Any Western Action Will Increase Instability in Region'

    It was not clear whether Trump and US allies would wait for the results of the investigation before deciding on a possible strike. Sanders says, "The president holds Syria and Russian Federation responsible for this chemical weapons attack ".

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.