WPP stays tight-lipped amid full disclosure pressure in Sorrell misconduct probe
WPP is under pressure to thrust its investigation into allegations of 'personal misconduct' levelled against Sir Martin Sorrell into the public domain after Lib Dem leader Sir Vince Cable accused the advertising giant of sweeping the issue ‘under the carpet’.
Sorrell sensationally stood down from the head of the advertising company he has helmed for the past 30 years over the weekend just days after WPP’s investigation had ‘concluded’.
That sparked Cable’s complaint at a ‘real lack of transparency’ in the way WPP has gone about handling the affair, with the politician now urging the company to make public its investigation, despite Sorrell’s own dismissal of the allegations.
WPP stays tight-lipped amidst full disclosure pressure over Sorrell misconduct probe
Responding to the transparency call a WPP spokesperson told the BBC: “As soon as the allegations were reported in the media, we confirmed in a formal statement that there was an independent investigation in process regarding allegations of personal misconduct.
"That investigation has now concluded and Sir Martin Sorrell has stepped down. WPP will be making no further comment."
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WPP has been thrown into confusion following the abrupt loss of its founding father figure with its share price tumbling 6% and rumours circulating that the advertising empire painstakingly pieced together over the decades could now be broken up.