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WPP embarks on new journey without Sorrell at the helm

reuters.com
WPP embarks on new journey without Sorrell at the helm

WPP, the world’s biggest advertising company, entered uncharted territory on Monday without its founder Martin Sorrell whose departure has left it rudderless at a time of swirling industry change. Shares in the group fell 4 percent after Sorrell, the driving force behind 33 years of dealmaking and relentless expansion, stepped down on Saturday after the board investigated an allegation of misconduct. The sudden departure of Sorrell, the face of the company since he founded it in 1985, has sparked questions as to whether the holding group can remain in its current form of employing 200,000 people in more than 400 agencies across 112 countries. It has also prompted fears that without Sorrell’s contacts it could lose clients and talent while it seeks out a new CEO.