Board of advertising agency WPP appoints independent counsel to investigate alleged misconduct by founder and CEO Sir Martin Sorrell.
Sir Martin Sorrell. Photo: WPP
An investigation has been launched against WPP founder and CEO Sir Martin Sorrell following an allegation of “personal misconduct”.
A terse statement to the stock exchange states that independent counsel has been appointed by WPP’s board to investigate the allegation against Sir Martin.
“The investigation is ongoing. The allegations do not involve amounts which are material to WPP,” the statement concludes.
Reports refer to a statement issued by Sir Martin, in which he rejects the allegation “unreservedly”, but recognised that it must be investigated. He will not play a part in managing the investigation.
“As a sig
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda
The collapse of two AIM-listed companies recently have highlighted potential regulatory failings in the stock exchange, leading commentators to debate whether the market should tighten up its governance rules.