 Martin Sorrell |
Martin Sorrell, who was "extracted" from the helm of WPP in April, was under scrutiny by the ad/PR firm about whether he used company funds to pay for the services of a prostitute, according to the June 9 Wall Street Journal.
Sorrell has "unreservedly" denied misusing any of WPP's financial assets.
His shocking departure from the helm of the company that he launched more than 30 years ago will be front and center at WPP's general meeting slated for June 13.
WPP dropped its investigation into Sorrell once he stepped down from the helm.
A spokesperson for Sorrell noted that he signed a nondisclosure agreement, which he has adhered to. The firm also is "prohibited by data protection law from giving such details," it was noted.
The 73-year-old Sorrell, who will receive more than $25M in incentives from WPP, did not have a non-compete clause in his contract.
He is planning to use a corporate shell company to forge a technology/data-focused marketing communications company via acquisitions.
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