Sir Martin Sorrell (pictured) has been asked to pay back approximately £200,000 in personal expenses to WPP. According to The Wall Street Journal (WSJ), the former chief executive of WPP had expenses related to travel and accommodation for his family. According to WSJ, WPP has “scrutinised” expenses by Sorrell dating back years ago that were charged to the company.
Sorrell has repaid £170,000 as WPP continues to seek reimbursement of the travel expenses, the article reported.
In a statement to Marketing, a spokesperson for Sorrell said all of his expenses were “regularly scrutinised and approved” by WPP management, the audit committee, and the board and were audited annually.
“Although Sorrell is still a top 10 WPP share owner, he is focused on building S4 Capital into a new era/new age first party data, digital content and programmatic company,” the spokesperson added. Marketing has reached out to WPP for comment.
Sorrell stepped down as CEO of WPP in April last year after 33 years, following the conclusion of an investigation by WPP into an allegation of personal misconduct. He is currently the executive chairman of S4 Capital which successfully bidded for digital production company MediaMonks for €300 million in cash and shares in July last year. MediaMonks currently has offices in Singapore, Shanghai, Dubai, Europe and US, and the acquisition was Sorrell’s first since resigning from WPP.
Meanwhile in December last year, S4 Capital confirmed its acquisition of media consultancy MightyHive, which is in line with its stated strategy of creating a new era, new media solution embracing data, content and technology in an always-on environment for global, multi-national, regional and local clients and for millennial-driven digital brands.