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 forced to repay £170k to WPP

Sir Martin Sorrell has been asked to repay about £170,000 (approximately Rs 1.59 crore) 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."

(This article first appeared on CampaignLive.co.uk)

Source:
Campaign India

Related Articles

Just Published

Premium
Christian Juhl to succeed Kelly Clark as Group M's global CEO
Premium
4 hours ago

Christian Juhl to succeed Kelly Clark as Group M's ...

Juhl takes over world's biggest ad buyer on 1 October.

Premium
Sony Max celebrates the spirit of Hindi movie fans with Gullu Gulati
Premium
6 hours ago

Sony Max celebrates the spirit of Hindi movie fans ...

Watch the film conceptualised by DDB Mudra here

Premium
Ogilvy global crisis brings India political links into focus
Premium
10 hours ago

Ogilvy global crisis brings India political links ...

Ogilvy's global CEO, John Seifert uses India as a case in point during an internal discussion with employees on the US Customs and Border Protection crisis

Premium
Jeep showcases its Trailhawk as a beautiful beast
Premium
11 hours ago

Jeep showcases its Trailhawk as a beautiful beast

Watch the film conceptualised by Leo Burnett India here