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WPP CEO Sir Martin Sorrell announced Saturday he was stepping down from the advertising company in the wake of an investigation into allegations of improper behavior and misuse of assets.
He said in a letter to staff that the “current disruption” was “putting too much unnecessary pressure on the business,” Reuters reported.
Sorrell has previously denied the allegations, but said he recognized the need for WPP to launch an investigation.
To read more about Sorrell’s resignation, click here.
In related news:
Here’s the full letter Martin Sorrell sent WPP staff after standing down as CEO. “As a Founder, I can say that WPP is not just a matter of life or death, it was, is and will be more important than that,” he wrote.
The chance of WPP being broken up has ‘dramatically increased.’ Read how Goldman, UBS and other major analysts are reacting to Sir Martin Sorrell leaving.
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