'Sir Martin Sorrell has quit as chief executive of the world’s largest advertising agency WPP, less than a fortnight after it was confirmed the company was investigating an allegation of personal misconduct against him.
The 73-year-old said he was obviously “sad” to be leaving the firm he founded 33 years ago.
“It has been a passion, focus and source of energy for so long,” he said in a statement. ”However, I believe it is in the best interests of the business if I step down now.”
The company stunned the advertising industry last week when it said it had appointed lawyers to investigate alleged misconduct by Sir Martin, who turned a two-man outfit into the world’s biggest advertising group with 200,000 employees.
He denied any misconduct “unreservedly”.
But in a letter to WPP staff published late on Saturday he said the “current disruption” was “putting too much unnecessary pressure on the business”.
He said he had decided that “in your interest, in the interest of our clients, in the interest of all shareowners, both big and small, and in the interest of all our other stakeholders, it is best for me to step aside”.'
Read more: Sir Martin Sorrell quits as WPP boss after investigation launched into personal misconduct allegations
Did you like this article?
Thank you for your vote!
9 February 2019
Virginia power crisis: As second woman accuses him of rape, Lt. Gov faces impeachment unless he resigns
7 February 2019
France recalling ambassador from Rome after Italy's deputy PM meets Yellow Vest leaders
21 January 2019
Cleveland police chief Mike Veale who investigated child-abusing Edward Heath resigns after 'serious allegations'
From our advertisers
7 hours ago
Australia’s prime minister calls for global social media restrictions after Christchurch shootings
'Renegade' - The Life Story of David Icke (Official Trailer) - 2019 - And where you can see it...
20 February 2019
Australian petition demanding David Icke be allowed into the country passes 15,000 and increasing all the time
From our advertisers