Gurjit Degun
Jan 29, 2019

Sir Martin Sorrell forced to repay £170k to WPP

Costs are reported to be for personal expenses over several years.

Sir Martin Sorrell
Sir Martin Sorrell

Sir Martin Sorrell has been asked to repay about £170,000 in personal expenses back to WPP.

The Wall Street Journal reported that the former boss of the holding company, which owns Ogilvy, Wunderman Thompson and Group M, had charged a ski trip, travel for his wife and child and items for an apartment in New York to WPP over a number of years.

According to the WSJ, Sorrell has repaid £170,000. However, WPP is seeking further reimbursement for other expenses, including a vacation.

Sorrell’s departure as chief executive of WPP in April last year came as a shock to the industry. He was quick to return to the business, however, setting up S4 Capital in the summer. S4 Capital has since acquired and merged with content production company MediaMonks.

A spokesman for Sorrell said: "All Sir Martin’s expenses were regularly scrutinised and approved by WPP management, the audit committee and the board, and were audited annually. Although Sir Martin is still a top 10 WPP share owner, he is focused on building S4 Capital."

A WPP spokesman said: "We can confirm that an amount has already been received and we have an ongoing dialogue regarding further sums."

Source:
Campaign UK

Related Articles

Just Published

1 hour ago

IAS explains ad verification in manga style

A young automobile-company exec learns how to mitigate brand risk and ad fraud in a free download from the ad-verification company.

1 hour ago

L'Oreal opens omnichannel concept store in Shanghai

Designed with AKQA, the store has a livestreaming set, face-scanning technology and personalised shopping via WeChat integration, as well as a chance to ride a bike through the streets of Paris.

4 hours ago

What legacy brands can learn from digital-native brands

Three fundamental differences separate digital-native brands from legacy brands when it comes to their approach to marketing, according to the chief digital officer of Wavemaker India.

12 hours ago

10 things agencies can do to end long hours

The long hours culture is created by things that are both in and out of an agency’s control. Here are some suggestions of what they can change.