WPP investigates allegations of 'personal misconduct' against CEO Sir Martin Sorrell

Sir-Martin-Sorrell.jpgThe board of WPP is currently investigating claims of "personal misconduct" made against CEO Martin Sorrell, a company spokesperson confirmed in a statement to Adweek.

The Wall Street Journal broke the news of the investigation Tuesday afternoon.

"The Board of WPP has appointed independent counsel to conduct an investigation in response to an allegation of personal misconduct against Sir Martin Sorrell, Chief Executive Officer of WPP," the statement read. "The investigation is ongoing. The allegations do not involve amounts which are material to WPP."
Sources also told The Wall Street Journal that the holding company was looking into possible misuse of company assets and that the company has hired an unnamed law firm to conduct an independent inquiry. 


Sorrell has since responded to the allegations via Ad Age in an emailed statement through a communications consultancy Projects Associates, which said it acts for the executive "in his personal capacity."

"Reports in the media have stated that WPP is investigating an allegation of financial impropriety by me, specifically as to the use of company funds," the statement reads. "This allegation is being investigated by a law firm. I reject the allegation unreservedly but recognize that the company has to investigate it. I understand that this process will be completed shortly."

The statement continues: "Obviously, I shall play no part in the management of the investigation under way. As a significant share owner, my commitment to the company, which I founded over thirty 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."

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