WPP boss Martin Sorrell resigns after internal investigation
Martin Sorrell, CEO of WPP, the world's largest advertising group, is stepping down following an internal investigation. The 73-year-old said over the weekend that his resignation was in the agency's best interest.
Sorrell led the group for over 30 years. According to the British company, an internal investigation is underway into whether Sorrell used company property unlawfully. Sorrell rejected the allegations.
Until a successor is found, the Chairman of the Board of Directors, Roberto Quarta, will take over the management of the company.
WPP is the largest advertising holding company in the world. The Group includes Y&R, Ogilvy & Mather and Grey, among others. (SDA/hae)
