Investigation into conduct of under-fire adman Sorrell could be released next week

 
Josh Mines
Sir Martin Sorrell, Chief Executive of W
A WPP report last year included a list of people who could step in to replace Sorrell if he is forced to step down as chief exec (Source: Getty)

The findings of an investigation into the conduct of under-fire adman Martin Sorrell could be released next week, according to reports.

A media storm erupted last week when the board of advertising giant WPP confirmed that it had hired a law firm to investigate allegations of "personal misconduct" by Sorrell.

But the FTSE 100 adman quickly refuted the claims in a statement, stating that he "unreservedly" denied the allegations, as shares in the company plummeted.

Read more: WPP shares fall as boss Sorrell rejects financial impropriety allegation

An investigation is now ongoing, led by WPP chairman Roberto Quarta, who has hired law firm WilmerHale to look into the allegations made against Sorrell.

Reuters today said a source expected the findings of WPP's investigation into its chief executive's alleged misconduct to be revealed as early as next week, although a spokesperson for WPP was unable to confirm this claim.

WPP said that the report was likely to be released "in a matter of weeks rather than months."

The PR giant's annual report, published last year, revealed contingency plans "in the event of sudden emergencies".

Former executive board member of WPP and current global chief executive of ad group Wunderman, Mark Read was among the names touted to replace Sorrell.

Also on the list is Lindsay Pattison, chief transformation officer of WPP's media investment management company Group M, alongside Johnny Hornby, founder of The&Partnership, the agency wing of WPP.

WPP shareholder Harris Associates have previously defended Sorrell, stating: "Unless we hear that Sir Martin has committed material offences, we believe he is the correct person to lead WPP at this unique and challenging period in the firm’s history."

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