Sir Martin Sorrell has launched a spirited defence of his conduct as chief executive of WPP in the wake of yesterday’s revelations that the advertising giant has hired an independent counsel to conduct an investigation into an ‘allegation of personal misconduct’.
This follows a separate article in the Wall Street Journal claiming that Sorrell had misused company assets, an allegation WPP would not elaborate on beyond stating it does ‘not involve amounts which are material to WPP’.
Today Sorrell spoke out in his defence via a prepared statement, writing: “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.
“This allegation is being investigated by a law firm. I reject the allegation unreservedly but recognise that the company has to investigate it. I understand that this process will be completed shortly.”
Sorrell founded WPP over thirty years ago, building the business into an advertising behemoth with 134,000 staff working in over 100 countries.