WPP's CEO Sir Martin Sorrell resigns

Company News

by Anna Napoli

One of the world’s largest Advertising agency’s WPP (ASX:WPP) has announced the resignation of CEO Sir Martin Sorrell.

The announcement comes following the conclusion of an investigation into alleged misuse of WPP money by Sir Martin.

The company says the allegation didn’t involve amounts that are material.

Sir Martin said WPP had been his passion, but it was in "the best interests of the business" to resign.

Shares in WPP (ASX:WPP) closed 1 per cent lower at 92 cents on Friday.