Since the beginning of April, the advertising industry has been shaken by an important investigation. The world's largest advertising and marketing communications network WPP's manager On April 4 Sir Martin Sorrell launched an investigation into alleged misuse of WPP administration. This investigation investigated Martin Sorrell's abuse of his assets and his inappropriate behavior. On April 14, Martin Sorrell announced his resignation from his post.
The WPP Executive Board has appointed an independent lawyer for this investigation. For this investigation that settled on the agenda of the foreign press the company was told to work with an anonymous law firm . However, Martin Sorrell and WPP who were at the beginning of the WPP since the day it was founded, shared the news that the manager left the company simultaneously on April 14.
After 33 Years WPP Will Continue Without A Way For The Now
In the posted report, WPP writes that Roberto Quarta's takeover of WPP President until the new Chairman's position vacated from Sorrell. Director position will be transferred to two persons. Wunderman and WPP Digital Manager Mark Read WPP Enterprise Development Manager and European Manager Andrew Scott are now in this role. Sir Martin Sorrell writes in the notice that he will assist the company in the transition process. According to the WPP's statement, the declaration does not include material amounts. Foreign spokesman said that the company will announce the results of the research this week. Quarta, the interim Chairman of the Board of Directors, also acknowledged that Sir Martin is the driving force behind the company's evolution.
Sir Martin says that the clashes that are experienced in the explanation create unnecessary pressures on the business. WPP says that because of this pressure, it is the action that needs to be taken by the WPP company and the company to act on behalf of each individual. Although he is saddened by this decision, he says he knows he's right, and says WPP will always be his pupil.
The Future of the Company According to Analysts Darkness
WPP has been involved in many companies for over 33 years including JWT, Ogilvy, Young & Rubicam, Gray. WPP is currently one of the largest companies in the world with companies in 112 countries connected to the network. Although the company stock values are falling since 1999, it is still a big company and everywhere in the world.
Analysts in foreign countries have already begun to interpret this situation. Analysts  think that this decision could lead to the disintegration of the WPP, which communicates the world. According to Alex de Groote, Cenkos Securities Media Analyst, if the WPP is dismantled, it could create a stir among other important companies like Omnicom, Interpublic Group and Publicis Group. Groote also notes that shareholders may have different plans on the WPP. Ian Whittaker from Liberium Capital thinks that WPP can be a much simpler process than disintegrating.
I personally do not think that such a big company would be as if you have taken the wrong stone in Jenga, but of course there may be situations like shareholder changes in the long run and small companies that are connected to the communication network.
Regardless, Sir Martin's investigation and the subsequent quitting are a very, very important development for the world of advertising and communication. An agency worker anywhere in the world will probably not be affected much by this activity, but the industry will be going through a ripple process in terms of company models and shareholders. What did Sir Martin say goodbye "Let all of us have a chance. It is now "Time to Return to the Future".