WPP’s CEO Sir Martin Sorrell, who is facing an investigation into an allegation of “personal misconduct”, has refuted the allegations levelled against him, through a statement issued at his personal capacity.
A company-appointed independent counsel is investigating Sir Martin Sorrell, although the specifics of the allegation, first reported by the Wall Street Journal, remain so far unclear.
Sorrell has issued a statement “in his personal capacity” to AdAge refuting any suggestion of “financial impropriety”.
He said “Reports in the media have stated that WPP is investigating an allegation of financial impropriety by me, specifically as to the use of company funds. This allegation is being investigated by a law firm. I reject the allegation unreservedly but recognise that the company has to investigate it. I understand that this process will be completed shortly.”
“Obviously, I shall play no part in the management of the investigation under way. As a significant share owner, my commitment to the company, which I founded over thirty years ago, remains absolute – to our people, our clients, our shareholders and all of our many stakeholders. I do not intend to make any further statement at this time.”
A company-appointed independent counsel is investigating Sir Martin Sorrell, although the specifics of the allegation, first reported by the Wall Street Journal, remain so far unclear.
Earlier, WPP spokesperson in a statement said, “The Board of WPP has appointed independent counsel to conduct an investigation in response to an allegation of personal misconduct against Sir Martin Sorrell, Chief Executive Officer of WPP. The investigation is ongoing.”
