WPP boss Sir Martin Sorrell brands a pro-Brexit vote a potential disaster
A day ahead of the UK electorate taking to the polls to decide the country's fate over EU membership, WPP boss Sir Martin Sorrell used a Cannes Lions stage to voice his opinion on the matter.
Sorrell
Speaking on a panel hosted by his organisation's ad tech hub Xaxis, he branded a pro-Brexit vote a potential disaster for the UK economy, adding that he would "shudder to think" what the consequences would be if that were the outcome of tomorrow's referendum.
Sir Martin explained that the resulting economic uncertainty if the UK electorate were to back an exit from the EU would be so destabilising that the financial reprecussions would be felt for years to come. He further pointed out that the largely flat growth rate of the global economy, relatively little inflation, plus a focus on controlling cost, meant that clients where not thinking with long term goals in mind.
"With conditions like these, it's not surprising that the average chief executive lasts only six-or-seven years," he said while being quizzed on stage by Xaxis' global chief Brian Gleason.
However, he did hasten to voice his confidence that the UK electorate would back the Vote Remain campaign, plus his opinion that Hillary Clinton would eventually prevail in this year's U.S. Whitehouse race.