WPP locks horns with former CEO Sir Martin Sorrell over payment of share awards

The conglomerate said that it is no longer obligated to the payouts after accusing Sorrell of leaking classified client information to the media

e4m by exchange4media Staff
Updated: Apr 30, 2021 1:08 PM
martin sorrell

Advertising conglomerate WPP is locked in a public feud with its founder and former CEO Martin Sorrell over payment of share awards. The organisation has also accused Sorrell of leaking client information to the media, according to Reuters.

WPP said that the incentive share scheme will no longer be applicable after the firm allegedly found Sorrell leaking classified client information to the media while he was at the helm of WPP.

The former CEO is now calling WPP's move "petty" and motivated by the anger of S4 Capital's success. Sorrell is now reportedly taking the legal route to challenge WPP's decision to withhold the payments.

He also called out the firm saying that it's hypocritical of them to accuse him of leaks given that they've been doing the same for the last three years.

Sorrell was to receive around £200,000 from WPP as per its long-term incentive plan. So far, he has received £3m in share award payouts from the company.

Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)

For more updates, be socially connected with us on
Instagram, LinkedIn, Twitter, Facebook & Youtube