Advertising and marketing giant WPP has come under fire from Standard Life after its governance chief questioned the company on succession plans should it lose its iconic CEO Martin Sorrell.
According to the Financial Times, Guy Jupp questioned the company at its annual general meeting yesterday, his first appearance at the event.
“We have been concerned for some time by the perception that Sir Martin has the potential to dominate the board’s decision taking,” Jupp is quoted as saying.
The FT says he described the issue of succession as “increasingly pressing”.
Sir Martin is 70 years old and shows no sign of standing down from the company he founded in 1985.
Related Posts
-
October 20, 2022
When a good CEO announces their departure, revealing a succession plan eases the pain in more ways than one, finds research.
-
April 25, 2022
Retired, resigned or left the company? A Stanford study suggests more chief executives are pushed out by boards than previously assumed.
-
December 1, 2021
The UK financial regulator wants to see greater cohesion between succession planning, diversity commitment and board evaluations.
-
February 2, 2022
Dingemans is a senior adviser at global investment firm The Carlyle Group and a former chief financial officer of GlaxoSmithKline.