London (United Kingdom) (AFP) – Martin Sorrell quit Saturday as chief executive of WPP less than a fortnight after the world’s biggest advertising group revealed it had launched an independent investigation into allegations of misconduct against him.
Sorrell founded the British ad giant.
“Obviously I am sad to leave WPP after 33 years,” he said in a statement.
“It has been a passion, focus and source of energy for so long.
“However, I believe it is in the best interests of the business if I step down now.”
Long-serving Sorrell has made headlines in recent years regarding his sizeable pay at a time when traditional advertising groups struggle against fierce competition from the likes of Google and Facebook.
Sorrell received a knighthood from Queen Elizabeth II in 2000.