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Stock impact report

Prominent Exit From Ad Industry Sets Off Questions About Future [The New York Times]

WPP plc American Depositary Shares (WPP) 
US:NYSE Investor Relations: wpp.com/wpp/investor/financialnews
Photo Martin Sorrell, who recently resigned as the head of WPP, helped create the era of conglomerate-building that has defined the advertising industry for the past three decades. It came as a shock to Madison Avenue in the late 1980s when a British financial whiz named Martin Sorrell came for two pre-eminent American advertising agencies, embarking on hostile takeovers of J. Walter Thompson and the Ogilvy Group on his way to forging a global empire. Almost three decades later, Mr. Sorrell was again at the center of another earthshaking moment for the industry. A little over a week ago, WPP announced that Mr. Sorrell had abruptly resign ed as chief executive, a position that, he told Ken Auletta of The New Yorker last year , he intended to keep “until they shoot me.” Mr. Sorrell’s exit would be a big deal in the ad and media worlds at any point — the bombastic 73-year-old known as Sir Martin was one of England’s highest-paid executives and was seen by Show less Read more
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