• News
  • Business

Martin Sorrell rejects 'allegations of financial impropriety' as WPP confirms investigation

Martin Sorrell rejects 'allegations of financial impropriety' as WPP confirms investigation

Sir Martin Sorrell, boss of the world's largest advertising agency, is under investigation for alleged personal misconduct.

Sir Martin Sorrell has responded to reports that WPP is investigation allegation of financial impropriety by him, saying he rejects the allegation "unreservedly".

The investigation into the undisclosed personal misconduct allegation is ongoing, said WPP's Buchanan Communications in a statement.

The allegations about Sir Martin, 73, were first reported on Tuesday by the Wall Street Journal.

The Journal article had said the WPP board was looking into whether Sir Martin had misused company assets, citing unnamed sources.

Sorrell built London-based WPP from an investment in a shopping-basket manufacturer into the owner of blue-chip agencies.

Apple Releases First Ever 11.3 Software Update for HomePod
These markets join Apple TV app users in the US, Australia, Canada, France, Germany, Norway, Sweden and the UK. Apple is also updating Apple Health, Music, News apps with iOS 11.3 and introducing ARKit 1.5 with iOS 11 .3.

The Telegraph meanwhile noted in its coverage of the news that the allegations were thought to have been made by a non-board member, with the investigation having begun a couple of days ago.

The company has struggled lately on the growth front, turning in its worst year in a decade in 2017 with financial guidance that does not foresee much improvement until at least 2019. "I reject the allegation unreservedly but recognize that hte company has to investigate it".

The statement added: "I understand that this process will be completed shortly". "Who's coming through? In Sorrell's case, he hasn't identified or even brought in the people or a layer of management where you feel, if he did leave, they'd be ready to take over".

The trouble at the top has once again put a spotlight on the issue of succession at WPP amid accusations of a "Sorrellcentricity" - the view that Sorrell runs the giant business autocratically as a personal fiefdom, dominating decision-making.

Sorrell, who has topped Britain's annual executive-pay lists on several years including 2014 and 2015, has in recent years become the focus of investor criticism over CEO compensation.

Leave Your Comment

Leave Your Comment


Latest News

  • Buhari mourns Winnie Mandela, says Africa lost a courageous woman

    Buhari mourns Winnie Mandela, says Africa lost a courageous woman

    In 1991, she was convicted of kidnapping and assault for the murder of 14- year-old Stompie Moeketsi by her bodyguards in 1989. Even the name given to Winnie Madikizela-Mandela at birth - Nomzamo, "one who undergoes trials" - foretold a life of struggle.
    Sarah Jessica Parker Just Endorsed Cynthia Nixon for Governor of NY

    Sarah Jessica Parker Just Endorsed Cynthia Nixon for Governor of NY

    Nixon, who has no prior experience running for elected office, is running against a two-term incumbent Governor. Kristin Davis , Sarah Jessica Parker , Cynthia Nixon , and Kim Cattrall in " Sex and the City ", 1998.
    Royal wedding: Security plans for Harry and Meghan's big day revealed

    Royal wedding: Security plans for Harry and Meghan's big day revealed

    "The wedding is expected to attract thousands of people from around the world to Windsor and planning is well under way". Once visitors arrive in Windsor there will be a screening and search regime.
  • Apple hires former Google AI chief to work on Siri

    Apple hires former Google AI chief to work on Siri

    The company will also allow users to completely delete their Apple IDs, which was earlier possible only by contacting the company. The conventional wisdom is that Apple is a laggard in the race to infuse consumer technology with artificial intelligence .
    Finally India, Pak agree to resolve diplomatic row

    Finally India, Pak agree to resolve diplomatic row

    In case of breach of code, the agreement required an intimation to be sent to the high commission before lodging a formal protest. It turned ugly when the children of Pakistani diplomats while on way to their schools were stopped and harassed.
    French police seek driver who tried to run down soldiers in Alps

    French police seek driver who tried to run down soldiers in Alps

    Radouane Lakdim , 25, began his killing spree when he stole a auto in the medieval town of Carcassonne, shooting the driver dead. Macron made reference to Knoll's death in a national tribute to a gendarme killed last week in an Islamist attack.
  • Joshua Beats Parker, Adds Third Title

    Joshua Beats Parker, Adds Third Title

    But a game Parker kept going and the boos at the end of the contest appeared to be aimed at the referee rather than the boxers. However, one man who was not buying into any of that was Tony Bellew, who was on the Sky Sports Box Office panel in Cardiff.
    Malala Returns to Pakistan for First Time Since Being Shot by Taliban

    Malala Returns to Pakistan for First Time Since Being Shot by Taliban

    They also blew up many girls' schools and imposed their strict version of Islamic law until they were finally driven out. She was just 15 when she was targeted by the Taliban for her outspoken campaigning over girls' rights to an education.
    WH: No Talk of Pardons for Flynn or Manafort in Russia Probe

    WH: No Talk of Pardons for Flynn or Manafort in Russia Probe

    The original charges filed against Gates and Manafort in October alleged conspiracy to launder money and making false statements. But the Times report claims that Trump's lawyer did in fact talk to Manafort's lawyer about a pardon.
  • Nvidia postpones tests of its self-driving cars

    Nvidia postpones tests of its self-driving cars

    Huang said Nvidia is dedicating itself to this problem, to make self-driving vehicles the safest option in the future. The Drive Constellation system is a two-server offering intended for simulated trials of autonomous vehicle software.
    New York Yankees vs. Tampa Bay Rays

    New York Yankees vs. Tampa Bay Rays

    Stroman allowed four runs, all in the third inning, and three hits, also all in the third, over five innings. The New York Yankees' home opener against the Tampa Bay Rays on Monday has been postponed because of snow.
    Rain and Snow Showers Continue 3-28-18

    Rain and Snow Showers Continue 3-28-18

    Snow appears set to hit Scotland today, with yellow weather warnings issued for tonight and Monday. Forecasters indicate a 40 percent chance of precipitation, with little or no snow accumulation .
  • Donald Trump Won't Be Mentioned Again on 'Roseanne'

    Donald Trump Won't Be Mentioned Again on 'Roseanne'

    ABC had projected a 2.2 and a 2.0 rating in the demo for the first two episodes, according to a network source. But they didn't think it would be so popular to begin with, either.
    Sessions spurns GOP request for second special counsel

    Sessions spurns GOP request for second special counsel

    After Sessions indicated last month that Horowitz would conduct a review , Trump reacted angrily on Twitter, writing "Why is A.G. Republicans are also likely to be upset with what amounts to the Justice Department investigating itself.
    Roseanne Fans Are Already Freaking out Over Revival Premiere

    Roseanne Fans Are Already Freaking out Over Revival Premiere

    Barr said she thought it was important to show how the Conner family deals with the same issues many American families are facing. For the reboot, Roseanne will be at odds with her sister Jackie, played by Laurie Metcalf , over President Donald Trump .
  • Parkland teens mock-and criticize-their new clear backpacks

    Parkland teens mock-and criticize-their new clear backpacks

    A letter from Principal Ty Thompson sent to families on Friday said that step has not been taken yet. Jack said there are no metal detectors at the entrances yet, but he's expecting that to come soon.
    Facebook updates privacy controls to let you delete your data

    Facebook updates privacy controls to let you delete your data

    However, Facebook said the move was taken in order to comply with the incoming GDPR guidelines, due to come into force in May. The changes won't affect Facebook's privacy policies or the types of data it gathers about its users.
    TMC, BJP take out Ram Navami rallies across West Bengal

    TMC, BJP take out Ram Navami rallies across West Bengal

    Peace has been restored with additional police forces patrolling the area, District Magistrate Shashanka Shetty said. Officer in-charge Pramit Ganguly also received head injuries, the officer had said.

Breaking News



Recommended

Spider-Man Arrives Exclusively on PS4 This September

Today, Sony and Insomniac announced a release date for the PS4-exclusive game , almost two years after it was first announced. As for more details about what we'll see in the game , Game Informer got some deets about the general set-up of the game .

Media bodies livid over Centre's proposed guidelines to 'curb fake news'

Prime Minister Narendra Modi has reversed the circular issued by Information and Broadcasting (I&B) ministry in regard to fake news .

Police say 4 wounded at YouTube HQ shooting, suspect dead

Dianne Feinstein, who represents the district where Tuesday's shooting occurred, expressed disbelief at the latest development. San Bruno Police Chief Ed Barberini told reporters the deceased woman had died of an apparent self-inflicted gunshot wound.

Putin, Erdogan Hold Joint Press Conference

But Putin refused to discuss the issue saying "these are exclusively commercial questions" rather than political ones. But Erdogan indicated that Turkey was in no mood to listen to criticism from the West over the purchase.

Steven Bochco 'NYPD Blue,' 'LA Law' creator dead at 74

Director Joss Whedon tweeted , "Absolutely one of the biggest influences on Buffy (and me) was HILL STREET BLUES ". Bochco worked with different collaborators, to co-create some of TV's most popular series for more than 20 years.

China's tumbling space station burns up over South Pacific

NASA's Skylab space station had a mass of more than 80 tons (around 75 metric tons) when it came down over Australia in 1979. The space lab flew down from orbit towards the South Pacific at around 8:16 pm Eastern Time.

Winter weather returns with two separate storms over Easter weekend

Pipestone County is in a winter storm watch beginning at 1 a.m. on Tuesday , April 3 to 10 p.m. Parts of Wisconsin and MI could see up to 18 inches of snow by the end of the day Wednesday.

Robbery suspect appears in court, bond set

Ruben Portugal was booked in the Vermilion County jail on preliminary charges of armed robbery and attempted vehicle hijacking. Police have arrested one of the two suspects wanted after liquor and electronics were stolen from the Junction Bar in Oshawa.

Officials warn of fatal case of synthetic marijuana use

The health effects which are linked to the usage of synthetic cannabinoids are harmful and unpredictable as well. Synthetic marijuana, also called K2 or spice, isn't a substitute for marijuana, Live Science reported in 2016 .

Toyota RAV4 2019 revealed

Higher-spec RAV4s see that screen grow to 8.0 inches, while a separate TFT display is available in the instrument cluster. The latter will center the auto in its lane by guiding itself with the painted lines or by following the vehicle ahead.