WPP chief Sir Martin Sorrell has once again, been making headlines as the board of WPP made a public announcement that the company is currently investigating him following claims of “personal misconduct”.
Reacting to the statements, Sorrell said in a statement, “I reject the allegation unreservedly but recognise that the company has to investigate it. I understand that this process will be completed shortly. Obviously, I shall play no part in the management of the investigation under way.”
He added, “As a significant share owner, my commitment to the company, which I founded over 30 years ago, remains absolute - to our people, our clients, our shareholders and all of our many stakeholders. I do not intend to make any further statement at this time.”
Global media reports said that WPP is investigating an allegation of financial impropriety by Sorrell, “specifically as to the use of company funds.” Yesterday, the WPP board said it had appointed an independent counsel and the investigation is ongoing. Last month, Sorrell said that 2017 “was not a pretty year” following the release of its financial results, as like-for-like top line growth was flat against original expectations of 2% growth