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WPP shares fall 6% as company, investors adjust to post-Martin Sorrell era

It has also prompted fears that without Sorrell's contacts it could lose clients and talent while it seeks a new CEO

Reuters  |  LONDON 

WPP entered uncharted territory on Monday after the exit of founder Martin Sorrell left the world's biggest advertising company rudderless at a time of intense industry change. Shares in WPP fell 6 percent after Sorrell, the driving force behind 33 years of dealmaking and relentless expansion, stepped down on Saturday after the board investigated an allegation of misconduct. David Herro of Harris Associates, WPP's biggest shareholder according to Thomson Reuters data, said Sorrell would be missed. "Sir Martin is a visionary, a legend in advertising and a skilful ...

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First Published: Tue, April 17 2018. 07:27 IST