Sorrell under investigation by WPP over "personal misconduct" allegations

WPP launch an independent investigation into misconduct allegations

WPP, the world's biggest advertising company, issued a statement after The Wall Street Journal reported news of the probe earlier in the day. Sources with knowledge of the matter meanwhile told the WSJ that WPP had hired a law firm to investigate the allegations and that it was taking the matter seriously.

The firm, WPP Plc, is investigating allegations of personal misconduct by the 73-year-old Sorrell.

"I understand that this process will be completed shortly", he said.

The world's largest advertising agency said its board had appointed independent counsel to conduct the investigation.

Sorrell, who has led WPP for 30 years, has recently garnered attention for having to take a massive pay cut as the holding company faces its worst growth prospects in roughly a decade.

In her 2016 lawsuit, Ms. Johnson alleged that JWT's then-chief executive, Gustavo Martinez, engaged in a pattern of misconduct that amounted to gender discrimination and a violation of her civil rights.

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We wait to see how WPP's shares react to the overnight news.

During the past five years Sorrell whose PR businesses in Australia are struggling to grow has been paid over $350M dollars during the past five years. Specifically, the lack of clear succession planning has been cited as leaving the company's future unresolved.

"The message for our people and clients is one of business as usual within our operating companies and client teams", the company said in the memo, according to two WPP employees who received it, who asked not to be identified as the document isn't public.

WPP's share price fell into the red in the previous session, giving up 1.32 percent to close at 1,117.50p, underperforming the broader United Kingdom market, with the benchmark FTSE 100 index shedding 26.15 points to end the session 0.37 percent lower at 7,030.46.

"It's never good when your CEO or any part of the leadership team is being investigated", Edentree's Patel said.

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