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18 мая, 17:57

WPP investor backs chairman over unpublished Martin Sorrell report

Revolt expected at marketing and advertising giant’s annual shareholder meeting in JuneWPP’s largest shareholder has backed the chairman Roberto Quarta’s decision not to reveal the outcome of an investigation into the conduct of the founder Sir Martin Sorrell before an expected revolt at the marketing and advertising company’s annual shareholder meeting next month.The influential shareholder advisory group Glass Lewis told investors this week it had “severe reservations” about a number of issues, including WPP’s failure to publish the outcome of the investigation into allegations of personal misconduct that prompted Sorrell to resign. It recommended voting against Quarta’s reappointment at the meeting in London on 13 June. Continue reading...

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14 мая, 13:14

WPP chairman faces investor revolt over unpublished Martin Sorrell report

Roberto Quarta should be ousted for handling of chief executive’s exit, says Glass LewisThe WPP chairman, Roberto Quarta, faces a shareholder revolt over the departure of the former chief executive Sir Martin Sorrell, after influential advisory group Glass Lewis recommended that investors vote against his re-election at the advertising giant’s annual meeting next month.In a report to investors, Glass Lewis said it had “severe reservations” about issues including the failure to publish the outcome of the investigation into personal misconduct that prompted Sorrell to resign – therefore classifying him as a “good leaver” keeping up to £20m in future share payouts intact – and poor succession planning. Continue reading...

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30 апреля, 11:25

WPP could sell stakes worth billions in Vice and other companies

Some of proceeds, as focus changes after Sir Martin Sorrell’s exit, will help pay down debt WPP is to sell stakes worth billions of pounds that it holds in a wide range of companies, as the world’s largest advertising group looks to refocus after the departure of founder Sir Martin Sorrell.The company has what analysts have called a “hidden treasure trove” of assets that are not part of its core business, such as a 9% stake in Vice, which as a business is valued at about $6bn. Continue reading...

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27 апреля, 15:39

Martin Sorrell's WPP pay plunged to £13.9m for last year in charge

Former chief executive’s 2017 remuneration was below £70.4m in 2015 and £48.1m in 2016Sir Martin Sorrell, the former chief executive of WPP, pocketed £13.9m for his last year in charge of the world’s largest advertising services group – far below the £70m he took home in 2015. Sorrell, who resigned earlier this month over a scandal involving an investigation into alleged financial misconduct at the company he founded, was one of the UK’s best-paid business leaders, earning more than £200m from pay and lucrative – but highly controversial – reward schemes in the past five years alone. Continue reading...

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21 апреля, 18:00

What happens to the global publicity titans if advertising no longer pays?

The departure of Martin Sorrell from WPP is just the latest sign of the crisis surrounding big ad firms and their ageing leadersNot so long ago a bearish Sir Martin Sorrell berated the advertising industry for its unrealistic “Don Draperish optimism” in the face of tough times, in a reference to hit TV series Mad Men and its depiction of the halcyon days and excesses of 1960s adland. Now it is the next generation, of Sorrell and his “math men” – the builders of global empires designed to churn out profits – that is now perhaps on the brink of becoming history.Sorrell’s departure may have been prompted by an investigation into allegations of personal misconduct, but with WPP’s share price down a third after a disastrous year, questions were already being raised about whether the 73-year-old’s vision was outdated in modern advertising. Continue reading...

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19 апреля, 18:12

WPP contacted by FCA to check if it is in breach of laws

Watchdog moves to ascertain if there has been any insider information infringement The financial services watchdog has contacted WPP to check if it is in breach of laws relating to insider information regarding the amount of company money that Sir Martin Sorrell is alleged to have misused.The WPP board has closed down the investigation into Sorrell as part of his deal to leave the company he founded 33 years ago, and has told shareholders the “allegations do not involve amounts that are material to WPP”. Continue reading...

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17 апреля, 20:48

WPP hires recruitment firm to help find Martin Sorrell successor

New York-based Russell Reynolds hired to aid search as ad firm tries to steady ship following departureWPP has hired a New York-based recruitment firm as it begins the global search to replace founder and chief executive Sir Martin Sorrell.Russell Reynolds, a top five global executive search firm, is understood to be working with Frances Illingworth, WPP’s global head of recruitment. Continue reading...

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16 апреля, 17:35

WPP: breaking up world's top advertising group could net £22bn

How Sir Martin Sorrell’s sprawling empire breaks down – and who could succeed himMartin Sorrell’s resignation triggers 7% slide in WPP sharesNils Pratley: Sorrell’s exit leaves too many unanswered questionsSir Martin Sorrell’s resignation has raised the question of whether his successor will be able to stop a breakup of the world’s largest advertising group.A number of names have emerged as potential runners and riders, including the Informa chief executive Stephen Carter, who has worked at Ofcom, cable firm NTL and at WPP’s ad agency JWT; Adam Crozier, whose pedigree includes running ITV, Royal Mail, the Football Association and Saatchi & Saatchi; the Sky chief executive, Jeremy Darroch; and Andrew Robertson, the chief executive of WPP rival Omnicom’s global BBDO ad network. Continue reading...

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16 апреля, 17:34

Martin Sorrell's resignation triggers 6.5% slide in WPP shares

Market reacts to uncertainty over succession at world’s largest advertising businessWPP: breaking up world’s top advertising group could net £22bnNils Pratley: Sorrell’s exit leaves too many unanswered questionsSir Martin Sorrell’s abrupt resignation from WPP triggered a 6.5% slide in the group’s share price on Monday as investors mulled the uncertain future of the world’s largest advertising business.Sir Martin, who founded WPP 33 years ago, resigned with immediate effect on Saturday amid an investigation into allegations of personal misconduct. Continue reading...

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16 апреля, 17:34

BAC Earnings, Retail Sales In Focus

BAC Earnings, Retail Sales In Focus