Former WPP CEO Sir Martin Sorrell has promised to “start again” after his exit from the network. According to the Financial Times (FT), Sorrell described his departure as being “extracted” from the network and that he is “not going into voluntary or involuntary retirement”.
Sorrell added during the recent Techonomy conference in New York that he now has a “better perspective” on where the strengths and weaknesses of traditional advertising companies lie, now that he has left WPP. He also described the new agency model to be more agile and responsive, as well as having less bureaucracy and layers within. The new model will also focus on data, content and technology.
Multiple media reports, including FT and Adweek, said that WPP did not “impose” a non-compete clause on Sorrell when he left, providing him with the opportunity to become a direct competitor to WPP. He headed up WPP for over 33 years, and last month, in an alarming move, left the industry due to allegations of personal misconduct. Reasons were however not disclosed, and Sorrell rejected the claims
When contacted by Marketing, WPP said it did not have anything further to add to Sorrell’s statement.